Optimize Financial Inc Makes New $850,000 Investment in Lumen Technologies, Inc. (NYSE:LUMN)

Optimize Financial Inc bought a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 160,097 shares of the technology company's stock, valued at approximately $850,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its stake in Lumen Technologies by 173.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company's stock worth $36,000 after acquiring an additional 4,277 shares in the last quarter. R Squared Ltd acquired a new stake in Lumen Technologies in the fourth quarter valued at about $48,000. HB Wealth Management LLC acquired a new position in Lumen Technologies during the fourth quarter worth $59,000. M&T Bank Corp acquired a new stake in Lumen Technologies in the fourth quarter valued at $66,000. Finally, Whipplewood Advisors LLC purchased a new stake in Lumen Technologies during the fourth quarter worth about $67,000. Institutional investors and hedge funds own 66.19% of the company's stock.

Analyst Upgrades and Downgrades

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

Lumen Technologies Stock Down 0.2 %

Shares of NYSE:LUMN traded down $0.01 during midday trading on Thursday, hitting $3.28. 8,949,564 shares of the stock were exchanged, compared to its average volume of 19,095,984. Lumen Technologies, Inc. has a 52-week low of $0.97 and a 52-week high of $10.33. The business's fifty day simple moving average is $4.38 and its two-hundred day simple moving average is $5.73. The company has a debt-to-equity ratio of 37.70, a quick ratio of 1.20 and a current ratio of 1.21. The company has a market capitalization of $3.36 billion, a PE ratio of -65.49 and a beta of 1.29.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its quarterly earnings data 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 net margin of 0.42% and a negative return on equity of 46.17%. As a group, research analysts predict that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

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.