Lumen Technologies Sees Unusually High Options Volume (NYSE:LUMN)

Lumen Technologies, Inc. (NYSE:LUMN) was the recipient of unusually large options trading activity on Tuesday. Investors purchased 54,375 call options on the company. This is an increase of 87% compared to the typical volume of 29,138 call options.

Institutional Investors Weigh In On Lumen Technologies

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Lumen Technologies by 1.2% in the third quarter. Vanguard Group Inc. now owns 113,552,549 shares of the technology company’s stock valued at $694,942,000 after buying an additional 1,295,177 shares during the last quarter. Front Street Capital Management Inc. raised its holdings in Lumen Technologies by 1.1% in the 2nd quarter. Front Street Capital Management Inc. now owns 11,969,084 shares of the technology company’s stock valued at $52,425,000 after acquiring an additional 132,131 shares during the last quarter. Man Group plc lifted its stake in Lumen Technologies by 3.3% in the 2nd quarter. Man Group plc now owns 11,486,835 shares of the technology company’s stock worth $50,312,000 after purchasing an additional 364,436 shares in the last quarter. Norges Bank purchased a new stake in shares of Lumen Technologies in the second quarter valued at approximately $47,923,000. Finally, Invesco Ltd. increased its holdings in shares of Lumen Technologies by 6.3% in the second quarter. Invesco Ltd. now owns 10,928,906 shares of the technology company’s stock valued at $47,869,000 after purchasing an additional 652,124 shares during the last quarter. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

Lumen Technologies Stock Performance

NYSE LUMN traded up $0.69 during trading hours on Tuesday, reaching $9.32. The stock had a trading volume of 10,372,362 shares, compared to its average volume of 11,547,586. Lumen Technologies has a 52-week low of $3.01 and a 52-week high of $11.95. The stock has a market cap of $9.55 billion, a P/E ratio of -5.64 and a beta of 1.46. The stock has a fifty day moving average of $8.13 and a 200 day moving average of $6.84.

Lumen Technologies (NYSE:LUMN) last posted its earnings results on Thursday, October 30th. The technology company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.11. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 13.02%.The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same period last year, the company earned ($0.13) earnings per share. Lumen Technologies’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, equities research analysts forecast that Lumen Technologies will post -0.87 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LUMN. Royal Bank Of Canada boosted their target price on Lumen Technologies from $4.25 to $8.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 25th. Citigroup downgraded shares of Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 target price on the stock. in a research report on Friday, October 31st. Zacks Research raised shares of Lumen Technologies from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 8th. Wall Street Zen raised Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, November 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lumen Technologies in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.72.

About Lumen Technologies

Lumen Technologies is a multinational technology company specializing in integrated network, edge cloud, security and collaboration services for enterprise and public sector clients. The company’s core offerings include high-capacity fiber and IP-based connectivity, managed edge computing solutions designed to accelerate applications and data processing closer to end users, and cybersecurity services ranging from DDoS protection to unified threat management. Through its unified portfolio, Lumen enables organizations to support digital transformation initiatives, modernize infrastructure and enhance operational resilience.

Leveraging one of the largest fiber footprints in North America, as well as infrastructure in Latin America and parts of Europe, Lumen connects customers across more than 60 countries.