Hsbc Holdings PLC Decreases Stake in Lumen Technologies, Inc. (NYSE:LUMN)

Hsbc Holdings PLC trimmed its holdings in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 2.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,749,792 shares of the technology company's stock after selling 468,241 shares during the period. Hsbc Holdings PLC owned about 1.75% of Lumen Technologies worth $95,750,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of LUMN. Smartleaf Asset Management LLC boosted its stake in shares of Lumen Technologies by 173.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company's stock worth $36,000 after purchasing an additional 4,277 shares during the period. R Squared Ltd purchased a new position in shares of Lumen Technologies during the fourth quarter valued at approximately $48,000. Seeds Investor LLC bought a new position in shares of Lumen Technologies during the fourth quarter valued at approximately $57,000. HB Wealth Management LLC purchased a new stake in shares of Lumen Technologies in the fourth quarter worth approximately $59,000. Finally, Marshall Wace LLP bought a new stake in shares of Lumen Technologies during the 4th quarter worth approximately $61,000. Hedge funds and other institutional investors own 66.19% of the company's stock.

Lumen Technologies Trading Down 1.8 %

LUMN stock traded down $0.07 during mid-day trading on Tuesday, hitting $3.52. 3,197,818 shares of the company were exchanged, compared to its average volume of 19,129,030. The business has a fifty day simple moving average of $4.15 and a 200-day simple moving average of $5.54. The firm has a market capitalization of $3.60 billion, a P/E ratio of -70.29 and a beta of 1.29. 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.

Lumen Technologies (NYSE:LUMN - Get Free Report) last announced its earnings results on Tuesday, February 4th. The technology company reported $0.09 EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.14. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. On average, equities research analysts predict that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LUMN. Royal Bank of Canada reiterated a "sector perform" rating and issued a $4.25 target price 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. Finally, Citigroup raised shares of Lumen Technologies from a "neutral" rating to a "buy" rating and lowered their price objective for the company from $8.00 to $6.50 in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $4.59.

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.