Nebula Research & Development LLC Buys 192,829 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Nebula Research & Development LLC grew its stake in Lumen Technologies, Inc. (NYSE:LUMN) by 244.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 271,594 shares of the technology company’s stock after acquiring an additional 192,829 shares during the period. Nebula Research & Development LLC’s holdings in Lumen Technologies were worth $1,442,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in Lumen Technologies in the fourth quarter worth approximately $63,638,000. Renaissance Technologies LLC increased its stake in shares of Lumen Technologies by 76.3% during the fourth quarter. Renaissance Technologies LLC now owns 11,664,009 shares of the technology company’s stock valued at $61,936,000 after buying an additional 5,049,709 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Lumen Technologies by 368.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,812,495 shares of the technology company’s stock valued at $52,111,000 after acquiring an additional 7,717,596 shares in the last quarter. Hennessy Advisors Inc. purchased a new stake in Lumen Technologies in the fourth quarter worth about $45,089,000. Finally, Allianz Asset Management GmbH grew its holdings in Lumen Technologies by 28.1% during the 4th quarter. Allianz Asset Management GmbH now owns 7,790,277 shares of the technology company’s stock worth $41,366,000 after acquiring an additional 1,710,373 shares in the last quarter. 66.19% of the stock is owned by hedge funds and other institutional investors.

Lumen Technologies Price Performance

Shares of NYSE LUMN opened at $3.35 on Friday. Lumen Technologies, Inc. has a fifty-two week low of $0.97 and a fifty-two week high of $10.33. The company has a market cap of $3.43 billion, a PE ratio of -66.99 and a beta of 1.29. The company has a debt-to-equity ratio of 37.70, a quick ratio of 1.20 and a current ratio of 1.21. The business has a 50-day simple moving average of $4.17 and a two-hundred day simple moving average of $5.57.

Lumen Technologies (NYSE:LUMN) last released its earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.14. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. As a group, equities analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on LUMN shares. Wells Fargo & Company raised shares of Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price target for the company in a research report on Friday, February 21st. Citigroup upgraded Lumen Technologies from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $8.00 to $6.50 in a report on Wednesday, February 26th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $4.25 price target on shares of Lumen Technologies in a report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $4.59.

About Lumen Technologies

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.