Lumen Technologies (NYSE:LUMN) Shares Down 0.9% - What's Next?

Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) shares dropped 0.9% during mid-day trading on Monday . The company traded as low as $6.67 and last traded at $6.68. Approximately 28,834,355 shares traded hands during mid-day trading, an increase of 45% from the average daily volume of 19,881,367 shares. The stock had previously closed at $6.74.

Analyst Ratings Changes

A number of analysts have commented on LUMN shares. Moffett Nathanson upped their target price on shares of Lumen Technologies from $1.00 to $3.00 and gave the company a "sell" rating in a report on Wednesday, August 7th. Citigroup upgraded Lumen Technologies from a "sell" rating to a "neutral" rating and lifted their target price for the company from $1.25 to $3.15 in a research report on Tuesday, August 6th. The Goldman Sachs Group raised their price objective on Lumen Technologies from $4.00 to $4.50 and gave the stock a "neutral" rating in a research note on Friday, October 4th. TD Cowen lifted their price objective on Lumen Technologies from $2.50 to $7.00 and gave the company a "hold" rating in a research report on Wednesday, August 7th. Finally, Bank of America lifted their price objective on Lumen Technologies from $1.00 to $2.00 and gave the company an "underperform" rating in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $4.09.

Lumen Technologies Stock Down 2.5 %

The firm has a market capitalization of $6.67 billion, a PE ratio of -0.61 and a beta of 1.19. The company has a fifty day moving average price of $6.10 and a 200-day moving average price of $3.15. The company has a debt-to-equity ratio of 39.51, a quick ratio of 1.01 and a current ratio of 1.01.

Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.07). The firm had revenue of $3.27 billion for the quarter, compared to analysts' expectations of $3.25 billion. Lumen Technologies had a negative return on equity of 18.52% and a negative net margin of 15.06%. The firm's revenue was down 10.7% on a year-over-year basis. During the same period last year, the company earned $0.10 earnings per share. As a group, analysts expect that Lumen Technologies, Inc. will post -0.18 earnings per share for the current year.

Insider Buying and Selling at Lumen Technologies

In other Lumen Technologies news, Director James Fowler acquired 10,000 shares of the business's stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of $4.70 per share, with a total value of $47,000.00. Following the transaction, the director now directly owns 384,056 shares of the company's stock, valued at $1,805,063.20. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 1.68% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lumen Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quadrature Capital Ltd bought a new position in shares of Lumen Technologies during the 1st quarter worth $468,000. Mackenzie Financial Corp lifted its stake in shares of Lumen Technologies by 267.4% during the 2nd quarter. Mackenzie Financial Corp now owns 236,390 shares of the technology company's stock worth $260,000 after purchasing an additional 172,040 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Lumen Technologies by 22.4% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,190,256 shares of the technology company's stock worth $3,198,000 after purchasing an additional 401,399 shares during the last quarter. Algert Global LLC purchased a new stake in shares of Lumen Technologies during the 2nd quarter worth $112,000. Finally, Front Street Capital Management Inc. lifted its stake in shares of Lumen Technologies by 30.1% during the 2nd quarter. Front Street Capital Management Inc. now owns 11,661,112 shares of the technology company's stock worth $12,827,000 after purchasing an additional 2,697,423 shares during the last quarter. Institutional investors own 66.19% of the company's stock.

Lumen Technologies Company Profile

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.