Lumen Technologies (NYSE:LUMN) Trading Up 13.9%

Lumen Technologies, Inc. (NYSE:LUMN)’s stock price was up 13.9% on Tuesday . The stock traded as high as $1.32 and last traded at $1.31. Approximately 6,085,891 shares changed hands during trading, a decline of 75% from the average daily volume of 24,732,570 shares. The stock had previously closed at $1.15.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on LUMN shares. The Goldman Sachs Group decreased their price target on Lumen Technologies from $3.00 to $1.50 and set a “neutral” rating on the stock in a report on Thursday, November 9th. Morgan Stanley cut their price objective on Lumen Technologies from $2.50 to $1.80 and set an “underweight” rating on the stock in a research report on Tuesday, September 5th. UBS Group cut their price objective on Lumen Technologies from $2.50 to $1.50 and set a “neutral” rating on the stock in a research report on Thursday, November 2nd. Finally, Royal Bank of Canada cut their price objective on Lumen Technologies from $2.75 to $2.25 and set a “sector perform” rating on the stock in a research report on Thursday, August 17th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $2.09.

Lumen Technologies Stock Up 6.5 %

The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 8.90. The business has a 50-day moving average price of $1.36 and a 200-day moving average price of $1.75. The firm has a market cap of $1.40 billion, a P/E ratio of -0.12, a P/E/G ratio of 0.15 and a beta of 1.04.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings data on Tuesday, October 31st. The technology company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.15). Lumen Technologies had a negative net margin of 76.63% and a positive return on equity of 8.25%. The company had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.59 billion. On average, equities analysts forecast that Lumen Technologies, Inc. will post 0.21 EPS for the current fiscal year.

Insider Activity at Lumen Technologies

In other Lumen Technologies news, Director James Fowler purchased 70,000 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was bought at an average cost of $1.40 per share, for a total transaction of $98,000.00. Following the completion of the purchase, the director now owns 153,038 shares in the company, valued at approximately $214,253.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director James Fowler acquired 70,000 shares of Lumen Technologies stock in a transaction dated Tuesday, November 7th. The stock was purchased at an average cost of $1.40 per share, for a total transaction of $98,000.00. Following the completion of the purchase, the director now directly owns 153,038 shares in the company, valued at approximately $214,253.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Christopher Stansbury acquired 500,000 shares of Lumen Technologies stock in a transaction dated Friday, November 3rd. The stock was purchased at an average price of $1.10 per share, with a total value of $550,000.00. Following the completion of the purchase, the chief financial officer now owns 500,000 shares of the company’s stock, valued at $550,000. The disclosure for this purchase can be found here. Insiders have purchased a total of 1,570,000 shares of company stock valued at $1,618,000 over the last quarter. 0.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Impax Asset Management Group plc grew its holdings in Lumen Technologies by 41.4% during the first quarter. Impax Asset Management Group plc now owns 210,786 shares of the technology company’s stock worth $559,000 after acquiring an additional 61,693 shares during the period. Level Four Advisory Services LLC grew its holdings in Lumen Technologies by 106.4% during the first quarter. Level Four Advisory Services LLC now owns 410,746 shares of the technology company’s stock worth $1,088,000 after acquiring an additional 211,701 shares during the period. Arcataur Capital Management LLC acquired a new stake in Lumen Technologies during the second quarter worth about $126,000. Independent Advisor Alliance acquired a new stake in Lumen Technologies in the first quarter valued at approximately $30,000. Finally, Exchange Traded Concepts LLC grew its holdings in Lumen Technologies by 79.2% in the second quarter. Exchange Traded Concepts LLC now owns 3,352,039 shares of the technology company’s stock valued at $7,576,000 after purchasing an additional 1,481,274 shares during the period. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

About Lumen Technologies

Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services under the Lumen, Quantum Fiber, and CenturyLink brands to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets.