Investors Purchase High Volume of Lumen Technologies Call Options (NYSE:LUMN)

Lumen Technologies, Inc. (NYSE:LUMN) was the recipient of some unusual options trading on Thursday. Stock investors purchased 65,705 call options on the stock. This represents an increase of 199% compared to the typical daily volume of 22,000 call options.

Analyst Ratings Changes

Several equities research analysts have issued reports on LUMN shares. TD Cowen boosted their price target on shares of Lumen Technologies from $8.00 to $9.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. Citigroup lowered their price target on shares of Lumen Technologies from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, February 5th. UBS Group boosted their price target on shares of Lumen Technologies from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Zacks Research lowered Lumen Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Finally, Wells Fargo & Company upped their price objective on Lumen Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Ten investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $7.91.

Lumen Technologies Price Performance

Shares of LUMN traded up $1.22 during trading hours on Thursday, hitting $10.62. The stock had a trading volume of 21,448,454 shares, compared to its average volume of 13,625,489. The company’s fifty day moving average is $7.62 and its two-hundred day moving average is $8.10. Lumen Technologies has a 52 week low of $3.37 and a 52 week high of $11.95. The stock has a market capitalization of $10.94 billion, a price-to-earnings ratio of -6.09 and a beta of 1.65.

Lumen Technologies (NYSE:LUMN) last posted its earnings results on Tuesday, May 5th. The technology company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.34). The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same quarter last year, the firm posted ($0.13) earnings per share. The business’s revenue was down 8.9% compared to the same quarter last year. Equities analysts predict that Lumen Technologies will post -0.39 EPS for the current fiscal year.

Insider Transactions at Lumen Technologies

In related news, Director Diankha Linear sold 45,000 shares of the business’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $7.89, for a total transaction of $355,050.00. Following the transaction, the director directly owned 198,229 shares in the company, valued at $1,564,026.81. The trade was a 18.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lumen Technologies

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Lumen Technologies by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 113,552,549 shares of the technology company’s stock worth $694,942,000 after acquiring an additional 1,295,177 shares during the last quarter. JPMorgan Chase & Co. grew its position in Lumen Technologies by 324.7% during the 4th quarter. JPMorgan Chase & Co. now owns 22,211,742 shares of the technology company’s stock worth $172,585,000 after acquiring an additional 16,981,326 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Lumen Technologies by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,390,473 shares of the technology company’s stock worth $142,894,000 after acquiring an additional 473,242 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Lumen Technologies by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 14,994,640 shares of the technology company’s stock worth $104,156,000 after acquiring an additional 144,664 shares during the last quarter. Finally, Norges Bank bought a new stake in Lumen Technologies during the 4th quarter worth approximately $106,557,000. 66.19% of the stock is currently owned by institutional investors.

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.