Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) shares traded up 8.5% during trading on Monday . The stock traded as high as $4.05 and last traded at $4.27. 1,142,021 shares were traded during mid-day trading, a decline of 94% from the average session volume of 19,407,433 shares. The stock had previously closed at $3.94.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the stock. Citigroup upgraded shares of Lumen Technologies from a "neutral" rating to a "buy" rating and decreased their price target for the company from $8.00 to $6.50 in a report on Wednesday, February 26th. Raymond James Financial raised Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 price target on the stock in a research report on Monday, May 5th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $4.58.
Read Our Latest Stock Analysis on LUMN
Lumen Technologies Price Performance
The company has a market cap of $4.29 billion, a P/E ratio of -13.41 and a beta of 1.38. The stock has a 50-day simple moving average of $3.86 and a 200 day simple moving average of $4.62. The company has a debt-to-equity ratio of 59.98, a quick ratio of 1.21 and a current ratio of 1.21.
Lumen Technologies (NYSE:LUMN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The technology company reported ($0.13) earnings per share for the quarter, topping analysts' consensus estimates of ($0.29) by $0.16. Lumen Technologies had a negative net margin of 2.41% and a negative return on equity of 75.08%. The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter in the previous year, the company earned ($0.04) earnings per share. The business's revenue was down 3.3% compared to the same quarter last year. On average, equities analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current year.
Hedge Funds Weigh In On Lumen Technologies
Hedge funds and other institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC lifted its holdings in shares of Lumen Technologies by 173.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company's stock valued at $36,000 after acquiring an additional 4,277 shares during the period. Lazard Asset Management LLC lifted its holdings in Lumen Technologies by 3,825.7% during the 4th 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 during the last quarter. Conning Inc. bought a new position in Lumen Technologies during the 1st quarter valued at about $39,000. OneDigital Investment Advisors LLC acquired a new position in Lumen Technologies in the first quarter valued at about $41,000. Finally, Meeder Advisory Services Inc. bought a new stake in Lumen Technologies during the first quarter worth about $41,000. Institutional investors own 66.19% of the company's stock.
About Lumen Technologies
(
Get Free Report)
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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