Lumen Technologies Sees Unusually High Options Volume (NYSE:LUMN)

Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) saw some unusual options trading on Friday. Investors bought 29,870 call options on the company. This represents an increase of 72% compared to the typical volume of 17,321 call options.

Lumen Technologies Trading Up 4.6 %

LUMN stock traded up $0.08 during mid-day trading on Friday, reaching $1.81. 4,974,785 shares of the company traded hands, compared to its average volume of 14,091,885. The company has a debt-to-equity ratio of 47.56, a current ratio of 1.35 and a quick ratio of 1.35. Lumen Technologies has a fifty-two week low of $0.78 and a fifty-two week high of $3.05. The firm's 50 day moving average price is $1.55 and its 200 day moving average price is $1.48.

Lumen Technologies (NYSE:LUMN - Get Free Report) last posted its earnings results on Tuesday, February 6th. The technology company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.11. Lumen Technologies had a negative net margin of 70.74% and a positive return on equity of 4.85%. The firm had revenue of $3.52 billion for the quarter, compared to analysts' expectations of $3.45 billion. During the same quarter last year, the firm earned $0.43 EPS. The company's quarterly revenue was down 7.4% compared to the same quarter last year. On average, analysts predict that Lumen Technologies will post -0.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group lowered their price objective on Lumen Technologies from $3.00 to $1.50 and set a "neutral" rating for the company in a research report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, Lumen Technologies has an average rating of "Hold" and an average target price of $1.81.

Insider Activity

In other news, Director James Fowler purchased 30,000 shares of the company's stock in a transaction dated Friday, February 9th. The stock was bought at an average cost of $1.50 per share, for a total transaction of $45,000.00. Following the purchase, the director now owns 183,038 shares of the company's stock, valued at $274,557. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director T Michael Glenn bought 50,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was acquired at an average cost of $1.47 per share, with a total value of $73,500.00. Following the transaction, the director now directly owns 272,019 shares in the company, valued at $399,867.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James Fowler bought 30,000 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average cost of $1.50 per share, with a total value of $45,000.00. Following the completion of the transaction, the director now owns 183,038 shares in the company, valued at $274,557. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 113,500 shares of company stock worth $174,780. Insiders own 0.76% of the company's stock.

Institutional Investors Weigh In On Lumen Technologies

A number of hedge funds have recently modified their holdings of LUMN. Hilltop Holdings Inc. bought a new stake in shares of Lumen Technologies in the 2nd quarter worth approximately $25,000. Equitable Holdings Inc. bought a new stake in Lumen Technologies during the 2nd quarter valued at $25,000. Strategies Wealth Advisors LLC bought a new stake in Lumen Technologies during the 4th quarter valued at $26,000. Brighton Jones LLC bought a new stake in Lumen Technologies during the 4th quarter valued at $27,000. Finally, Sanibel Captiva Trust Company Inc. bought a new stake in Lumen Technologies during the 4th quarter valued at $27,000. Institutional investors own 69.72% of the company's stock.

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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