Bank of Nova Scotia Has $73,000 Stock Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

Bank of Nova Scotia boosted its position in Lumen Technologies, Inc. (NYSE:LUMN) by 28.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,788 shares of the technology company’s stock after acquiring an additional 3,069 shares during the period. Bank of Nova Scotia’s holdings in Lumen Technologies were worth $73,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its position in shares of 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 buying an additional 4,277 shares during the period. R Squared Ltd acquired a new stake in Lumen Technologies during the 4th quarter worth $48,000. HB Wealth Management LLC acquired a new position in shares of Lumen Technologies in the 4th quarter valued at $59,000. M&T Bank Corp bought a new position in shares of Lumen Technologies in the 4th quarter worth $66,000. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Lumen Technologies during the fourth quarter worth $67,000. 66.19% of the stock is owned by institutional investors.

Lumen Technologies Stock Down 1.9 %

Shares of Lumen Technologies stock opened at $3.41 on Wednesday. Lumen Technologies, Inc. has a 52-week low of $0.97 and a 52-week high of $10.33. 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 business’s 50 day simple moving average is $4.42 and its 200 day simple moving average is $5.75. The firm has a market cap of $3.49 billion, a PE ratio of -68.09 and a beta of 1.29.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates 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%. On average, analysts predict that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Citigroup upgraded Lumen Technologies from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $8.00 to $6.50 in a research report on Wednesday, February 26th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $4.25 target price on shares of Lumen Technologies in a report 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 price target for the company in a report on Friday, February 21st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $4.59.

Lumen Technologies 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.