Lumen Technologies (NYSE:LUMN) Stock Price Up 9.4%

Lumen Technologies, Inc. (NYSE:LUMNGet Free Report)’s share price rose 9.4% during trading on Friday . The stock traded as high as $1.55 and last traded at $1.51. Approximately 6,906,199 shares traded hands during trading, a decline of 52% from the average daily volume of 14,389,556 shares. The stock had previously closed at $1.38.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. The Goldman Sachs Group cut 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. UBS Group lowered their price objective on Lumen Technologies from $2.50 to $1.50 and set a “neutral” rating for the company in a research note on Thursday, November 2nd. Two analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $2.09.

Get Our Latest Analysis on LUMN

Lumen Technologies Stock Performance

The stock has a market cap of $1.49 billion, a PE ratio of -0.13 and a beta of 1.01. The company has a fifty day moving average price of $1.55 and a 200 day moving average price of $1.54. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 8.90.

Lumen Technologies (NYSE:LUMNGet Free Report) last announced its quarterly earnings results on Tuesday, October 31st. The technology company reported ($0.09) earnings per share (EPS) 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 business had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.59 billion. Analysts expect that Lumen Technologies, Inc. will post 0.08 earnings per share for the current year.

Insider Buying and Selling at Lumen Technologies

In related news, CEO Kathleen E. Johnson purchased 1,000,000 shares of the company’s stock in a transaction dated Thursday, November 2nd. The shares were purchased at an average cost of $0.97 per share, with a total value of $970,000.00. Following the transaction, the chief executive officer now directly owns 5,148,592 shares in the company, valued at approximately $4,994,134.24. The purchase was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO Christopher Stansbury bought 500,000 shares of the firm’s stock in a transaction on Friday, November 3rd. The stock was acquired at an average cost of $1.10 per share, for a total transaction of $550,000.00. Following the purchase, the chief financial officer now owns 500,000 shares in the company, valued at $550,000. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Kathleen E. Johnson acquired 1,000,000 shares of Lumen Technologies stock in a transaction dated Thursday, November 2nd. The stock was bought at an average price of $0.97 per share, with a total value of $970,000.00. Following the completion of the purchase, the chief executive officer now directly owns 5,148,592 shares in the company, valued at $4,994,134.24. The disclosure for this purchase can be found here. In the last three months, insiders have bought 1,570,000 shares of company stock valued at $1,618,000. 0.76% of the stock is currently owned by corporate insiders.

Institutional Trading of Lumen Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in Lumen Technologies by 137.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,085,381 shares of the technology company’s stock valued at $2,961,000 after acquiring an additional 1,207,329 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Lumen Technologies during the 3rd quarter valued at about $951,000. Arcataur Capital Management LLC purchased a new stake in Lumen Technologies during the 2nd quarter valued at about $126,000. Citigroup Inc. grew its stake in Lumen Technologies by 4.5% during the 2nd quarter. Citigroup Inc. now owns 1,016,721 shares of the technology company’s stock valued at $2,298,000 after acquiring an additional 43,902 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in shares of Lumen Technologies by 79.2% in the 2nd quarter. Exchange Traded Concepts LLC now owns 3,352,039 shares of the technology company’s stock valued at $7,576,000 after buying an additional 1,481,274 shares during the period. 69.72% of the stock is owned by hedge funds and other institutional investors.

About Lumen Technologies

(Get Free Report)

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.

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