Lumen Technologies (NYSE:LUMN) Stock Price Up 8.6%

Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) shares rose 8.6% on Tuesday . The stock traded as high as $1.37 and last traded at $1.36. Approximately 8,455,257 shares traded hands during mid-day trading, a decline of 33% from the average daily volume of 12,553,917 shares. The stock had previously closed at $1.25.

Lumen Technologies Trading Up 5.6 %

The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -0.12 and a beta of 1.16. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 36.89. The company's 50 day simple moving average is $1.45 and its two-hundred day simple moving average is $1.48.

Lumen Technologies (NYSE:LUMN - Get Free Report) last announced its earnings results on Tuesday, April 30th. The technology company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.01). Lumen Technologies had a negative net margin of 76.21% and a positive return on equity of 4.06%. The firm had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same quarter last year, the business earned $0.10 earnings per share. Lumen Technologies's revenue was down 12.0% on a year-over-year basis. As a group, research analysts anticipate that Lumen Technologies, Inc. will post -0.18 earnings per share for the current fiscal year.

Insider Activity at Lumen Technologies

In other news, Director T Michael Glenn purchased 50,000 shares of the company's stock in a transaction dated Monday, February 26th. The stock was acquired at an average price of $1.47 per share, with a total value of $73,500.00. Following the purchase, the director now directly owns 272,019 shares in the company, valued at approximately $399,867.93. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Kathleen E. Johnson bought 750,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were acquired at an average price of $1.28 per share, with a total value of $960,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 7,756,290 shares in the company, valued at $9,928,051.20. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director T Michael Glenn bought 50,000 shares of the stock in a transaction dated Monday, February 26th. The stock was purchased at an average cost of $1.47 per share, for a total transaction of $73,500.00. Following the acquisition, the director now owns 272,019 shares of the company's stock, valued at $399,867.93. The disclosure for this purchase can be found here. 1.68% of the stock is currently owned by insiders.

Institutional Trading of Lumen Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Strategies Wealth Advisors LLC acquired a new position in Lumen Technologies during the fourth quarter worth about $26,000. Brighton Jones LLC acquired a new stake in shares of Lumen Technologies during the fourth quarter worth $27,000. HighPoint Advisor Group LLC acquired a new stake in shares of Lumen Technologies in the 4th quarter worth about $27,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Lumen Technologies in the 3rd quarter worth about $30,000. Finally, Fidelis Capital Partners LLC increased its holdings in shares of Lumen Technologies by 94.6% in the 1st quarter. Fidelis Capital Partners LLC now owns 22,142 shares of the technology company's stock worth $35,000 after acquiring an additional 10,764 shares during the period. Hedge funds and other institutional investors own 66.19% 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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