Nebula Research & Development LLC Has $1.44 Million Position in Lumen Technologies, Inc. (NYSE:LUMN)

Nebula Research & Development LLC grew its holdings in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 244.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 271,594 shares of the technology company's stock after purchasing an additional 192,829 shares during the period. Nebula Research & Development LLC's holdings in Lumen Technologies were worth $1,442,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of LUMN. Norges Bank acquired a new position in Lumen Technologies during the fourth quarter valued at approximately $63,638,000. Renaissance Technologies LLC grew its stake in Lumen Technologies by 76.3% in the 4th quarter. Renaissance Technologies LLC now owns 11,664,009 shares of the technology company's stock valued at $61,936,000 after buying an additional 5,049,709 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Lumen Technologies by 368.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,812,495 shares of the technology company's stock worth $52,111,000 after acquiring an additional 7,717,596 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in Lumen Technologies during the fourth quarter valued at about $45,089,000. Finally, Allianz Asset Management GmbH grew its position in shares of Lumen Technologies by 28.1% in the fourth quarter. Allianz Asset Management GmbH now owns 7,790,277 shares of the technology company's stock valued at $41,366,000 after purchasing an additional 1,710,373 shares during the last quarter. Hedge funds and other institutional investors own 66.19% of the company's stock.

Lumen Technologies Stock Up 0.7 %

Shares of Lumen Technologies stock traded up $0.03 on Thursday, hitting $3.57. The company had a trading volume of 4,434,558 shares, compared to its average volume of 19,096,242. Lumen Technologies, Inc. has a twelve month low of $0.97 and a twelve month high of $10.33. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20. The stock has a 50-day moving average of $4.10 and a 200-day moving average of $5.51. The firm has a market capitalization of $3.65 billion, a P/E ratio of -71.29 and a beta of 1.29.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, beating 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%. Research analysts predict that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.