BNP Paribas Financial Markets Purchases New Shares in Lumen Technologies, Inc. (NYSE:LUMN)

BNP Paribas Financial Markets bought a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 179,494 shares of the technology company's stock, valued at approximately $953,000.

A number of other hedge funds have also recently bought and sold shares of the company. Algert Global LLC boosted its position in Lumen Technologies by 171.5% during the fourth quarter. Algert Global LLC now owns 796,988 shares of the technology company's stock worth $4,232,000 after acquiring an additional 503,458 shares during the last quarter. Gallagher Fiduciary Advisors LLC boosted its position in Lumen Technologies by 15.3% during the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 134,476 shares of the technology company's stock worth $714,000 after acquiring an additional 17,869 shares during the last quarter. Parvin Asset Management LLC acquired a new stake in Lumen Technologies during the fourth quarter worth approximately $84,000. Westerly Capital Management LLC purchased a new position in Lumen Technologies during the fourth quarter worth approximately $2,655,000. Finally, Kapitalo Investimentos Ltda raised its stake in Lumen Technologies by 63.9% during the fourth quarter. Kapitalo Investimentos Ltda now owns 73,468 shares of the technology company's stock worth $390,000 after purchasing an additional 28,642 shares during the period. Institutional investors and hedge funds own 66.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on LUMN shares. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $4.25 price target on shares of Lumen Technologies in a research note on Monday, February 10th. Wells Fargo & Company raised shares of Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 price target on the stock in a research note on Friday, February 21st. Citigroup raised shares of Lumen Technologies from a "neutral" rating to a "buy" rating and cut their price target for the stock from $8.00 to $6.50 in a research note on Wednesday, February 26th. Finally, Raymond James raised shares of Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 price target on the stock in a research note on Monday, May 5th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $4.58.

Lumen Technologies Trading Up 8.1%

Shares of LUMN stock traded up $0.30 during mid-day trading on Tuesday, reaching $4.02. The company's stock had a trading volume of 17,548,272 shares, compared to its average volume of 19,386,045. The company's 50 day simple moving average is $3.80 and its 200-day simple moving average is $5.12. Lumen Technologies, Inc. has a 12-month low of $0.97 and a 12-month high of $10.33. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 37.70. The firm has a market capitalization of $4.12 billion, a PE ratio of -80.38 and a beta of 1.34.

Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its earnings results on Thursday, May 1st. The technology company reported ($0.13) EPS for the quarter, beating analysts' consensus estimates of ($0.29) by $0.16. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter last year, the firm posted ($0.04) EPS. The business's revenue for the quarter was down 3.3% compared to the same quarter last year. On average, research analysts predict that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

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.