Lumen Technologies (NYSE:LUMN) Trading Down 4.1% - Should You Sell?

Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report)'s share price was down 4.1% on Thursday . The company 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.

Analyst Ratings Changes

Several analysts recently commented on the company. BNP Paribas upgraded Lumen Technologies to a "hold" rating in a research report on Wednesday, June 25th. Raymond James Financial raised Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 target price for the company in a research report on Monday, May 5th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $4.58.

Lumen Technologies Stock Down 2.5%

The company has a debt-to-equity ratio of 59.98, a current ratio of 1.21 and a quick ratio of 1.21. The business has a 50 day moving average price of $4.20 and a 200 day moving average price of $4.44. The firm has a market capitalization of $4.51 billion, a P/E ratio of -14.18 and a beta of 1.39.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its 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 return on equity of 75.08% and a negative net margin of 2.41%. The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same period last year, the business earned ($0.04) earnings per share. The firm's revenue for the quarter was down 3.3% compared to the same quarter last year. On average, analysts predict that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.

Institutional Investors Weigh In On Lumen Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Lumen Technologies by 92.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 40,068 shares of the technology company's stock worth $157,000 after acquiring an additional 19,216 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of 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 worth $39,000 after buying an additional 7,307 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Lumen Technologies in the 4th quarter valued at about $1,624,000. Ritholtz Wealth Management bought a new stake in shares of Lumen Technologies in the 1st quarter valued at about $43,000. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in Lumen Technologies by 88.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 84,475 shares of the technology company's stock valued at $331,000 after acquiring an additional 39,619 shares during the period. 66.19% of the stock is owned by institutional investors and hedge funds.

About Lumen Technologies

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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