Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) saw some unusual options trading on Monday. Stock traders bought 57,575 call options on the stock. This is an increase of approximately 234% compared to the typical volume of 17,263 call options.
Analyst Ratings Changes
Several research analysts have recently weighed in on the company. Wall Street Zen raised Lumen Technologies from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Raymond James Financial increased their target price on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. The Goldman Sachs Group boosted their target price on Lumen Technologies from $4.10 to $4.60 and gave the stock a "neutral" rating in a research report on Friday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Lumen Technologies in a report on Saturday, September 27th. Finally, BNP Paribas raised shares of Lumen Technologies to a "hold" rating in a research report on Wednesday, June 25th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $5.39.
Check Out Our Latest Analysis on LUMN
Lumen Technologies Trading Up 10.6%
Shares of NYSE LUMN traded up $0.70 during trading hours on Monday, hitting $7.26. 14,499,801 shares of the company traded hands, compared to its average volume of 13,129,270. The stock has a market capitalization of $7.44 billion, a price-to-earnings ratio of -6.13 and a beta of 1.45. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 59.98. Lumen Technologies has a 12 month low of $3.01 and a 12 month high of $10.33. The company's 50 day moving average price is $5.02 and its 200 day moving average price is $4.37.
Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The technology company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.24) by $0.21. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.11 billion. Lumen Technologies had a negative net margin of 9.19% and a negative return on equity of 158.40%. The company's quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.13) EPS. On average, equities research analysts anticipate that Lumen Technologies will post -0.87 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, CEO Kathleen E. Johnson acquired 135,870 shares of the stock in a transaction on Tuesday, August 5th. The shares were purchased at an average price of $3.69 per share, for a total transaction of $501,360.30. Following the purchase, the chief executive officer directly owned 9,616,947 shares in the company, valued at approximately $35,486,534.43. The trade was a 1.43% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Christopher Stansbury bought 42,000 shares of the business's stock in a transaction on Thursday, August 14th. The shares were acquired at an average price of $4.29 per share, with a total value of $180,180.00. Following the completion of the purchase, the chief financial officer directly owned 518,000 shares of the company's stock, valued at approximately $2,222,220. The trade was a 8.82% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 217,870 shares of company stock worth $859,140. Company insiders own 2.30% of the company's stock.
Hedge Funds Weigh In On Lumen Technologies
A number of institutional investors have recently added to or reduced their stakes in LUMN. Farther Finance Advisors LLC boosted its position in shares of Lumen Technologies by 132.3% during the second quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company's stock worth $26,000 after buying an additional 3,391 shares during the period. MRP Capital Investments LLC grew its stake in Lumen Technologies by 160.0% during the 2nd quarter. MRP Capital Investments LLC now owns 6,500 shares of the technology company's stock worth $28,000 after buying an additional 4,000 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of Lumen Technologies by 3,527.9% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 6,639 shares of the technology company's stock valued at $29,000 after purchasing an additional 6,456 shares during the last quarter. Conning Inc. acquired a new stake in shares of Lumen Technologies in the 1st quarter valued at approximately $39,000. Finally, OneDigital Investment Advisors LLC purchased a new stake in Lumen Technologies during the first quarter worth $41,000. Hedge funds and other 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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