The Goldman Sachs Group Increases Lumen Technologies (NYSE:LUMN) Price Target to $5.00

Lumen Technologies (NYSE:LUMN) had its target price lifted by The Goldman Sachs Group from $4.50 to $5.00 in a research note released on Wednesday,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Other research analysts have also recently issued reports about the company. Citigroup raised Lumen Technologies from a “sell” rating to a “neutral” rating and raised their target price for the stock from $1.25 to $3.15 in a research report on Tuesday, August 6th. Moffett Nathanson lifted their price target on Lumen Technologies from $1.00 to $3.00 and gave the company a “sell” rating in a report on Wednesday, August 7th. Wells Fargo & Company lowered Lumen Technologies from an “equal weight” rating to an “underweight” rating and lifted their price objective for the stock from $1.75 to $4.00 in a research report on Friday, August 16th. Bank of America boosted their target price on Lumen Technologies from $1.00 to $2.00 and gave the stock an “underperform” rating in a research report on Thursday, August 8th. Finally, UBS Group boosted their target price on Lumen Technologies from $1.50 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $4.02.

Lumen Technologies Stock Performance

NYSE LUMN traded down $0.02 on Wednesday, hitting $9.00. 9,049,209 shares of the company were exchanged, compared to its average volume of 19,919,291. The company’s 50 day moving average price is $6.39 and its 200-day moving average price is $3.64. The company has a debt-to-equity ratio of 39.51, a current ratio of 1.01 and a quick ratio of 1.01. Lumen Technologies has a twelve month low of $0.97 and a twelve month high of $9.20.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings results on Tuesday, November 5th. The technology company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.04). Lumen Technologies had a negative net margin of 15.06% and a negative return on equity of 18.52%. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.21 billion. During the same period in the previous year, the firm posted ($0.09) EPS. The company’s quarterly revenue was down 11.5% compared to the same quarter last year. Analysts anticipate that Lumen Technologies will post -0.59 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director James Fowler purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of $4.70 per share, for a total transaction of $47,000.00. Following the completion of the acquisition, the director now owns 384,056 shares of the company’s stock, valued at $1,805,063.20. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.68% of the stock is currently owned by corporate insiders.

Institutional Trading of Lumen Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Sawgrass Asset Management LLC increased its stake in Lumen Technologies by 68.5% in the 2nd quarter. Sawgrass Asset Management LLC now owns 22,786 shares of the technology company’s stock worth $25,000 after acquiring an additional 9,263 shares during the last quarter. Sanctuary Advisors LLC bought a new position in Lumen Technologies during the 2nd quarter valued at approximately $25,000. ANTIPODES PARTNERS Ltd bought a new position in Lumen Technologies during the 2nd quarter valued at approximately $26,000. Concord Wealth Partners increased its holdings in shares of Lumen Technologies by 98.8% in the 3rd quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock worth $28,000 after purchasing an additional 1,992 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new stake in shares of Lumen Technologies in the 2nd quarter worth $33,000. 66.19% of the stock is currently owned by institutional investors.

Lumen Technologies Company Profile

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.