Lumen Technologies (NYSE:LUMN) Shares Gap Up - Time to Buy?

Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report)'s stock price gapped up before the market opened on Monday . The stock had previously closed at $3.78, but opened at $3.96. Lumen Technologies shares last traded at $3.93, with a volume of 2,270,276 shares traded.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. 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. Wells Fargo & Company upgraded shares of Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 price objective on the stock in a research note on Friday, February 21st. Citigroup upgraded shares of Lumen Technologies from a "neutral" rating to a "buy" rating and cut their price target for the company from $8.00 to $6.50 in a report on Wednesday, February 26th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $4.25 price objective on shares of Lumen Technologies in a research note on Monday, February 10th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $4.58.

Lumen Technologies Trading Down 1.2 %

The firm has a market capitalization of $4.29 billion, a PE ratio of -83.58 and a beta of 1.34. The stock's 50-day simple moving average is $4.05 and its 200-day simple moving average is $5.43. The company has a debt-to-equity ratio of 37.70, a quick ratio of 1.20 and a current ratio of 1.21.

Lumen Technologies (NYSE:LUMN - Get Free Report) last announced its earnings results on Thursday, May 1st. The technology company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.16. The business had revenue of $3.18 billion for the quarter, compared to analysts' expectations of $3.12 billion. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. The business's revenue for the quarter was down 3.3% on a year-over-year basis. During the same period last year, the firm posted ($0.04) earnings per share. As a group, sell-side analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Lumen Technologies

A number of institutional investors have recently added to or reduced their stakes in LUMN. Smartleaf Asset Management LLC boosted its holdings in Lumen Technologies by 173.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company's stock worth $36,000 after acquiring an additional 4,277 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in Lumen Technologies by 3,825.7% during the fourth quarter. Lazard Asset Management LLC now owns 7,498 shares of the technology company's stock valued at $39,000 after purchasing an additional 7,307 shares in the last quarter. Conning Inc. acquired a new position in Lumen Technologies in the 1st quarter valued at $39,000. OneDigital Investment Advisors LLC acquired a new stake in Lumen Technologies in the 1st quarter valued at about $41,000. Finally, Meeder Advisory Services Inc. purchased a new position in Lumen Technologies during the first quarter worth about $41,000. 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.