Lumen Technologies' (LUMN) "Sell (D-)" Rating Reiterated at Weiss Ratings

Key Points

• Lumen Technologies has received a "sell (D-)" rating from Weiss Ratings, reaffirming concerns about its stock performance.
• Despite the sell rating, Citigroup and other analysts have raised their target prices for Lumen, with Citigroup increasing it from $6.00 to $7.50 and giving a "buy" rating.
• Insider buying activities were noted, with CEO Kathleen E. Johnson acquiring 135,870 shares at an average price of $3.69 per share, indicating confidence in the company's future.

Lumen Technologies (NYSE:LUMN - Get Free Report)'s stock had its "sell (d-)" rating reissued by equities researchers at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

LUMN has been the subject of several other research reports. Citigroup boosted their target price on Lumen Technologies from $6.00 to $7.50 and gave the stock a "buy" rating in a research note on Thursday, September 25th. Wall Street Zen raised Lumen Technologies from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Raymond James Financial boosted their target price on Lumen Technologies from $4.50 to $5.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. BNP Paribas raised Lumen Technologies to a "hold" rating in a research note on Wednesday, June 25th. Finally, The Goldman Sachs Group boosted their target price on Lumen Technologies from $4.10 to $4.60 and gave the stock a "neutral" rating in a research note on Friday, October 3rd. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Lumen Technologies has an average rating of "Hold" and an average target price of $5.39.

Lumen Technologies Trading Up 2.2%

LUMN opened at $7.06 on Wednesday. Lumen Technologies has a twelve month low of $3.01 and a twelve month high of $10.33. The company has a 50-day simple moving average of $5.17 and a 200 day simple moving average of $4.42. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 59.98. The stock has a market capitalization of $7.24 billion, a price-to-earnings ratio of -5.98 and a beta of 1.45.

Lumen Technologies (NYSE:LUMN - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The technology company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.21. Lumen Technologies had a negative net margin of 9.19% and a negative return on equity of 158.40%. The business had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.11 billion. During the same quarter in the prior year, the business posted ($0.13) earnings per share. Lumen Technologies's revenue was down 5.4% compared to the same quarter last year. Analysts predict that Lumen Technologies will post -0.87 EPS for the current fiscal year.

Insider Activity at Lumen Technologies

In other news, CEO Kathleen E. Johnson acquired 135,870 shares of the stock in a transaction dated Tuesday, August 5th. The stock was bought at an average price of $3.69 per share, with a total value of $501,360.30. Following the completion of the purchase, the chief executive officer directly owned 9,616,947 shares of the company's stock, valued at $35,486,534.43. This represents a 1.43% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Christopher Stansbury acquired 42,000 shares of the stock in a transaction dated Thursday, August 14th. The stock was purchased at an average cost of $4.29 per share, with a total value of $180,180.00. Following the purchase, the chief financial officer directly owned 518,000 shares of the company's stock, valued at $2,222,220. This trade represents a 8.82% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 217,870 shares of company stock valued at $859,140 in the last ninety days. 2.30% of the stock is currently owned by insiders.

Institutional Trading of Lumen Technologies

Several institutional investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC boosted its holdings in Lumen Technologies by 3.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 76,905 shares of the technology company's stock valued at $408,000 after acquiring an additional 2,220 shares during the last quarter. HB Wealth Management LLC boosted its holdings in Lumen Technologies by 23.6% in the first quarter. HB Wealth Management LLC now owns 13,715 shares of the technology company's stock valued at $54,000 after acquiring an additional 2,619 shares during the last quarter. Lido Advisors LLC boosted its holdings in Lumen Technologies by 25.9% in the second quarter. Lido Advisors LLC now owns 13,567 shares of the technology company's stock valued at $59,000 after acquiring an additional 2,790 shares during the last quarter. Choreo LLC boosted its holdings in Lumen Technologies by 0.8% in the second quarter. Choreo LLC now owns 401,843 shares of the technology company's stock valued at $1,760,000 after acquiring an additional 3,308 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Lumen Technologies by 132.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company's stock worth $26,000 after buying an additional 3,391 shares in the last quarter. 66.19% of the stock is currently owned by institutional investors.

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.

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