Lumen Technologies (NYSE:LUMN) Shares Gap Up - What's Next?

Shares of Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $3.81, but opened at $4.36. Lumen Technologies shares last traded at $3.96, with a volume of 8,830,405 shares.

Wall Street Analyst Weigh In

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

Lumen Technologies Price Performance

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 company has a market cap of $3.83 billion, a price-to-earnings ratio of -74.59 and a beta of 1.34. The company has a fifty day simple moving average of $3.85 and a two-hundred day simple moving average of $5.20.

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

Institutional Trading of Lumen Technologies

A number of large investors have recently made changes to their positions in the stock. McAdam LLC boosted its stake in shares of Lumen Technologies by 74.5% during the first quarter. McAdam LLC now owns 113,350 shares of the technology company's stock valued at $444,000 after acquiring an additional 48,384 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Lumen Technologies by 50.6% during the first quarter. Acadian Asset Management LLC now owns 804,061 shares of the technology company's stock valued at $3,146,000 after acquiring an additional 270,027 shares during the last quarter. Intech Investment Management LLC boosted its stake in shares of Lumen Technologies by 24.7% during the first quarter. Intech Investment Management LLC now owns 1,221,905 shares of the technology company's stock valued at $4,790,000 after acquiring an additional 242,418 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Lumen Technologies by 11.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,985,216 shares of the technology company's stock valued at $11,702,000 after acquiring an additional 300,328 shares during the last quarter. Finally, Optimize Financial Inc boosted its stake in Lumen Technologies by 74.0% in the 1st quarter. Optimize Financial Inc now owns 278,527 shares of the technology company's stock worth $1,092,000 after buying an additional 118,430 shares during the last quarter. Institutional investors and hedge funds 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.