Lumen Technologies (NYSE:LUMN) Shares Up 4.6% - What's Next?

Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) shares shot up 4.6% during mid-day trading on Monday . The stock traded as high as $3.51 and last traded at $3.51. 1,650,331 shares changed hands during trading, a decline of 91% from the average session volume of 19,162,215 shares. The stock had previously closed at $3.35.

Analysts Set New Price Targets

LUMN has been the subject of several analyst reports. Wells Fargo & Company upgraded Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 price target for the company in a report on Friday, February 21st. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $4.25 price target on shares of Lumen Technologies in a research note on Monday, February 10th. Finally, Citigroup upgraded Lumen Technologies from a "neutral" rating to a "buy" rating and lowered their price target for the company from $8.00 to $6.50 in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $4.59.

Lumen Technologies Price Performance

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 company's fifty day moving average price is $4.10 and its 200 day moving average price is $5.51. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of -71.09 and a beta of 1.29.

Lumen Technologies (NYSE:LUMN - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.14. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. Equities research analysts expect that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.

Institutional Investors Weigh In On Lumen Technologies

Several large investors have recently made changes to their positions in the company. Empowered Funds LLC bought a new position in shares of Lumen Technologies in the fourth quarter valued at approximately $1,139,000. Strategic Financial Concepts LLC grew its position in Lumen Technologies by 430.7% during the 4th quarter. Strategic Financial Concepts LLC now owns 179,335 shares of the technology company's stock worth $952,000 after purchasing an additional 145,542 shares in the last quarter. Polianta Ltd acquired a new position in shares of Lumen Technologies in the fourth quarter worth $692,000. Mariner Investment Group LLC bought a new position in Lumen Technologies during the fourth quarter valued at approximately $531,000. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Lumen Technologies by 8.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 935,386 shares of the technology company's stock valued at $4,967,000 after purchasing an additional 73,841 shares in the last quarter. Institutional investors and hedge funds 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.