Lumen Technologies (NYSE:LUMN) Shares Up 6%

Lumen Technologies, Inc. (NYSE:LUMNGet Free Report) traded up 6% during trading on Tuesday . The stock traded as high as $1.74 and last traded at $1.71. 3,549,571 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 13,898,344 shares. The stock had previously closed at $1.61.

Lumen Technologies Price Performance

The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 47.56. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of -0.17 and a beta of 1.11. The stock’s 50-day simple moving average is $1.53 and its two-hundred day simple moving average is $1.48.

Lumen Technologies (NYSE:LUMNGet Free Report) last released its earnings results on Tuesday, February 6th. The technology company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.11. The business had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.45 billion. Lumen Technologies had a positive return on equity of 4.85% and a negative net margin of 70.74%. The business’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.43 earnings per share. Equities research analysts predict that Lumen Technologies, Inc. will post -0.3 earnings per share for the current year.

Insider Buying and Selling at Lumen Technologies

In related news, Director T Michael Glenn purchased 50,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was acquired at an average cost of $1.47 per share, for a total transaction of $73,500.00. Following the completion of the transaction, the director now directly owns 272,019 shares in the company, valued at $399,867.93. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Lumen Technologies news, Director James Fowler bought 33,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were purchased at an average cost of $1.68 per share, with a total value of $56,280.00. Following the purchase, the director now directly owns 216,538 shares in the company, valued at $363,783.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director T Michael Glenn purchased 50,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was acquired at an average cost of $1.47 per share, with a total value of $73,500.00. Following the transaction, the director now directly owns 272,019 shares in the company, valued at $399,867.93. The disclosure for this purchase can be found here. Insiders have acquired 113,500 shares of company stock worth $174,780 over the last quarter. 0.76% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lumen Technologies

A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in Lumen Technologies by 43.7% in the first quarter. BlackRock Inc. now owns 111,878,156 shares of the technology company’s stock worth $296,477,000 after acquiring an additional 34,020,726 shares during the last quarter. Renaissance Technologies LLC raised its stake in Lumen Technologies by 98.5% during the 1st quarter. Renaissance Technologies LLC now owns 24,202,603 shares of the technology company’s stock worth $64,137,000 after acquiring an additional 12,008,200 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Lumen Technologies by 32,449.8% during the fourth quarter. AQR Capital Management LLC now owns 11,525,887 shares of the technology company’s stock worth $60,165,000 after purchasing an additional 11,490,477 shares in the last quarter. Two Sigma Investments LP acquired a new stake in shares of Lumen Technologies in the 1st quarter valued at about $25,611,000. Finally, First Trust Advisors LP lifted its stake in Lumen Technologies by 49.4% in the first quarter. First Trust Advisors LP now owns 26,623,778 shares of the technology company’s stock valued at $70,553,000 after buying an additional 8,806,410 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

About Lumen Technologies

(Get Free Report)

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.

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