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.

Analysts Set New Price Targets

LUMN has been the topic of several research reports. Royal Bank of Canada reissued a "sector perform" rating and issued a $4.25 target price on shares of Lumen Technologies in a research report on Monday, February 10th. Raymond James upgraded Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 price objective for the company in a research note on Monday, May 5th. Wells Fargo & Company upgraded Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 target price on the stock in a research report on Friday, February 21st. Finally, Citigroup raised shares of Lumen Technologies from a "neutral" rating to a "buy" rating and reduced their price target for the stock from $8.00 to $6.50 in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $4.58.

Lumen Technologies Stock Up 5.5 %

The company has a debt-to-equity ratio of 37.70, a quick ratio of 1.20 and a current ratio of 1.21. The business's 50 day moving average price is $4.03 and its 200 day moving average price is $5.40. The firm has a market cap of $4.50 billion, a price-to-earnings ratio of -87.78 and a beta of 1.34.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The technology company reported ($0.13) earnings per share 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 company had revenue of $3.18 billion during the quarter, compared to analysts' expectations of $3.12 billion. During the same quarter in the previous year, the company earned ($0.04) earnings per share. The firm's revenue for the quarter was down 3.3% on a year-over-year basis. On average, equities analysts forecast that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Institutional Trading of Lumen Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Northern Trust Corp grew its stake in Lumen Technologies by 8.6% in the 4th quarter. Northern Trust Corp now owns 12,354,499 shares of the technology company's stock valued at $65,602,000 after acquiring an additional 982,206 shares during the period. Norges Bank acquired a new stake in shares of Lumen Technologies in the fourth quarter valued at about $63,638,000. Renaissance Technologies LLC increased its stake in shares of Lumen Technologies by 76.3% during the fourth quarter. Renaissance Technologies LLC now owns 11,664,009 shares of the technology company's stock worth $61,936,000 after purchasing an additional 5,049,709 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Lumen Technologies by 368.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,812,495 shares of the technology company's stock worth $52,111,000 after purchasing an additional 7,717,596 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in Lumen Technologies by 12.6% in the 1st quarter. Allianz Asset Management GmbH now owns 8,772,315 shares of the technology company's stock worth $34,387,000 after buying an additional 982,038 shares during the last quarter. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

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.