Lumen Technologies (NYSE:LUMN) Stock Price Up 6%

Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) shot up 6% on Tuesday . The company traded as high as $1.74 and last traded at $1.71. 3,549,571 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 13,898,344 shares. The stock had previously closed at $1.61.

Lumen Technologies Stock Up 5.0 %

The company has a debt-to-equity ratio of 47.56, a quick ratio of 1.35 and a current ratio of 1.35. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of -0.15 and a beta of 1.11. The stock's fifty day simple moving average is $1.53 and its two-hundred day simple moving average is $1.48.

Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The technology company reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.45 billion. During the same period in the prior year, the company earned $0.43 EPS. Lumen Technologies's revenue was down 7.4% on a year-over-year basis. On average, sell-side analysts anticipate that Lumen Technologies, Inc. will post -0.3 EPS for the current year.

Insider Buying and Selling at Lumen Technologies

In other news, Director T Michael Glenn acquired 50,000 shares of Lumen Technologies stock in a transaction on Monday, February 26th. The stock was bought at an average cost of $1.47 per share, with a total value of $73,500.00. Following the completion of the purchase, the director now owns 272,019 shares of the company's stock, valued at $399,867.93. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Lumen Technologies news, Director James Fowler acquired 33,500 shares of the business's stock in a transaction that occurred on Tuesday, February 13th. The shares were purchased at an average price of $1.68 per share, with a total value of $56,280.00. Following the completion of the transaction, the director now owns 216,538 shares in the company, valued at $363,783.84. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director T Michael Glenn acquired 50,000 shares of the business's stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average cost of $1.47 per share, for a total transaction of $73,500.00. Following the transaction, the director now owns 272,019 shares of the company's stock, valued at approximately $399,867.93. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 113,500 shares of company stock valued at $174,780. 0.76% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lumen Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in shares of Lumen Technologies by 43.7% in the first quarter. BlackRock Inc. now owns 111,878,156 shares of the technology company's stock valued at $296,477,000 after purchasing an additional 34,020,726 shares during the period. Renaissance Technologies LLC raised its position in shares of Lumen Technologies by 98.5% in the first quarter. Renaissance Technologies LLC now owns 24,202,603 shares of the technology company's stock valued at $64,137,000 after purchasing an additional 12,008,200 shares during the period. AQR Capital Management LLC raised its position in shares of Lumen Technologies by 32,449.8% in the fourth quarter. AQR Capital Management LLC now owns 11,525,887 shares of the technology company's stock valued at $60,165,000 after purchasing an additional 11,490,477 shares during the period. Two Sigma Investments LP bought a new position in shares of Lumen Technologies in the first quarter valued at approximately $25,611,000. Finally, First Trust Advisors LP raised its position in shares of Lumen Technologies by 49.4% in the first quarter. First Trust Advisors LP now owns 26,623,778 shares of the technology company's stock valued at $70,553,000 after purchasing an additional 8,806,410 shares during the period. 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.