Lumen Technologies (NYSE:LUMN) Shares Down 1.1%

Shares of Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) traded down 1.1% during trading on Wednesday . The stock traded as low as $5.15 and last traded at $5.30. 3,204,295 shares traded hands during trading, a decline of 84% from the average session volume of 20,496,787 shares. The stock had previously closed at $5.36.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LUMN. Citigroup raised shares of Lumen Technologies from a "sell" rating to a "neutral" rating and raised their price objective for the company from $1.25 to $3.15 in a research report on Tuesday, August 6th. TD Cowen raised their price objective on shares of Lumen Technologies from $2.50 to $7.00 and gave the company a "hold" rating in a research report on Wednesday, August 7th. Moffett Nathanson raised their price objective on shares of Lumen Technologies from $1.00 to $3.00 and gave the company a "sell" rating in a research report on Wednesday, August 7th. Wells Fargo & Company lowered shares of Lumen Technologies from an "equal weight" rating to an "underweight" rating and raised their price objective for the company from $1.75 to $4.00 in a research report on Friday, August 16th. Finally, UBS Group raised their price objective on shares of Lumen Technologies from $1.50 to $5.00 and gave the company a "neutral" rating in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $4.02.

Lumen Technologies Stock Performance

The company has a market cap of $5.53 billion, a P/E ratio of -0.50 and a beta of 1.17. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 39.51. The stock's 50-day moving average price is $3.78 and its 200 day moving average price is $2.21.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.07). Lumen Technologies had a negative net margin of 15.06% and a negative return on equity of 18.52%. The firm had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.25 billion. During the same period in the prior year, the business earned $0.10 EPS. The company's revenue for the quarter was down 10.7% compared to the same quarter last year. As a group, research analysts expect that Lumen Technologies, Inc. will post -0.17 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director James Fowler bought 10,000 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average price of $4.70 per share, with a total value of $47,000.00. Following the completion of the transaction, the director now owns 384,056 shares of the company's stock, valued at approximately $1,805,063.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lumen Technologies

Institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its stake in shares of Lumen Technologies by 28.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 26,304,001 shares of the technology company's stock valued at $48,136,000 after purchasing an additional 5,782,249 shares in the last quarter. Palestra Capital Management LLC boosted its stake in shares of Lumen Technologies by 71.0% in the 4th quarter. Palestra Capital Management LLC now owns 11,167,585 shares of the technology company's stock valued at $20,437,000 after purchasing an additional 4,637,585 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Lumen Technologies by 129.8% in the 2nd quarter. Millennium Management LLC now owns 7,854,906 shares of the technology company's stock valued at $8,640,000 after purchasing an additional 4,436,710 shares in the last quarter. Front Street Capital Management Inc. boosted its stake in shares of Lumen Technologies by 30.1% in the 2nd quarter. Front Street Capital Management Inc. now owns 11,661,112 shares of the technology company's stock valued at $12,827,000 after purchasing an additional 2,697,423 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Lumen Technologies by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 120,303,220 shares of the technology company's stock valued at $187,673,000 after purchasing an additional 1,975,400 shares in the last quarter. Institutional investors and hedge funds own 66.19% of the company's stock.

About Lumen Technologies

Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets. It offers dark fiber, edge cloud services, internet protocol, managed security, software-defined wide area networks, secure access service edge, unified communications and collaboration, and optical wavelengths services; ethernet and VPN data networks services; and legacy services to manage cash flow, including time division multiplexing voice, private line, and other legacy services, as well as sells communication equipment, and IT solutions.