Lumen Technologies (NYSE:LUMN) Stock Price Down 0.9% – What’s Next?

Lumen Technologies, Inc. (NYSE:LUMN)’s stock price fell 0.9% during trading on Monday . The stock traded as low as $6.67 and last traded at $6.68. 28,834,355 shares traded hands during mid-day trading, an increase of 45% from the average session volume of 19,881,367 shares. The stock had previously closed at $6.74.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Bank of America raised their price objective on shares of Lumen Technologies from $1.00 to $2.00 and gave the stock an “underperform” rating in a research report on Thursday, August 8th. Moffett Nathanson upped their price objective on Lumen Technologies from $1.00 to $3.00 and gave the company a “sell” rating in a report on Wednesday, August 7th. Citigroup raised shares of Lumen Technologies from a “sell” rating to a “neutral” rating and boosted their target price for the company from $1.25 to $3.15 in a research report on Tuesday, August 6th. JPMorgan Chase & Co. raised Lumen Technologies from an “underweight” rating to a “neutral” rating in a report on Wednesday, August 7th. Finally, The Goldman Sachs Group boosted their price target on Lumen Technologies from $4.00 to $4.50 and gave the stock a “neutral” rating in a report on Friday, October 4th. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat, Lumen Technologies has an average rating of “Hold” and an average target price of $4.09.

Lumen Technologies Trading Down 1.6 %

The stock has a market capitalization of $6.73 billion, a PE ratio of -0.61 and a beta of 1.19. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 39.51. The firm has a 50 day moving average price of $6.10 and a 200 day moving average price of $3.14.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Tuesday, August 6th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.07). Lumen Technologies had a negative return on equity of 18.52% and a negative net margin of 15.06%. The firm had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.25 billion. During the same period in the prior year, the firm earned $0.10 earnings per share. Lumen Technologies’s revenue was down 10.7% compared to the same quarter last year. Equities analysts expect that Lumen Technologies, Inc. will post -0.18 EPS for the current fiscal year.

Insider Activity at Lumen Technologies

In other Lumen Technologies news, Director James Fowler acquired 10,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average price of $4.70 per share, with a total value of $47,000.00. Following the completion of the transaction, the director now owns 384,056 shares in the company, valued at approximately $1,805,063.20. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 1.68% of the stock is currently owned by company insiders.

Institutional Trading of Lumen Technologies

Several hedge funds have recently added to or reduced their stakes in LUMN. Vanguard Group Inc. lifted its stake in Lumen Technologies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 118,327,820 shares of the technology company’s stock valued at $216,540,000 after purchasing an additional 927,331 shares during the last quarter. HighPoint Advisor Group LLC purchased a new stake in shares of Lumen Technologies during the 4th quarter valued at approximately $27,000. Fulton Bank N.A. bought a new position in Lumen Technologies in the 1st quarter worth approximately $48,000. Range Financial Group LLC grew its position in shares of Lumen Technologies by 129.6% in the first quarter. Range Financial Group LLC now owns 109,181 shares of the technology company’s stock valued at $170,000 after purchasing an additional 61,632 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in shares of Lumen Technologies by 28.7% in the first quarter. Commonwealth Equity Services LLC now owns 531,792 shares of the technology company’s stock valued at $830,000 after acquiring an additional 118,572 shares during the period. Institutional investors own 66.19% of the company’s stock.

Lumen Technologies Company Profile

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.