Lumen Technologies (NYSE:LUMN) Trading Down 4.1% - What's Next?

Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report)'s stock price was down 4.1% on Thursday . The stock traded as low as $4.44 and last traded at $4.33. Approximately 1,432,832 shares were traded during trading, a decline of 93% from the average daily volume of 19,458,618 shares. The stock had previously closed at $4.51.

Analysts Set New Price Targets

Several equities analysts have recently commented on LUMN shares. Raymond James Financial upgraded 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 report on Monday, May 5th. BNP Paribas raised Lumen Technologies to a "hold" rating in a research note on Wednesday, June 25th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $4.58.

Lumen Technologies Stock Down 0.8%

The company has a market cap of $4.44 billion, a P/E ratio of -13.95 and a beta of 1.39. The stock has a fifty day moving average price of $4.20 and a two-hundred day moving average price of $4.41. The company has a debt-to-equity ratio of 59.98, a current ratio of 1.21 and a quick ratio of 1.21.

Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.29) by $0.16. Lumen Technologies had a negative return on equity of 75.08% and a negative net margin of 2.41%. The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter last year, the company posted ($0.04) EPS. The company's revenue for the quarter was down 3.3% on a year-over-year basis. On average, research analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Institutional Trading of Lumen Technologies

Hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC increased its position 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 valued at $26,000 after purchasing an additional 3,391 shares during the last quarter. Lazard Asset Management LLC boosted its stake in Lumen Technologies by 3,825.7% in the 4th quarter. Lazard Asset Management LLC now owns 7,498 shares of the technology company's stock worth $39,000 after purchasing an additional 7,307 shares during the period. Conning Inc. bought a new stake in shares of Lumen Technologies during the first quarter valued at approximately $39,000. OneDigital Investment Advisors LLC purchased a new position in shares of Lumen Technologies in the first quarter worth $41,000. Finally, Meeder Advisory Services Inc. purchased a new position in Lumen Technologies during the first quarter valued at $41,000. 66.19% of the stock is owned by 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.