Lumen Technologies (NYSE:LUMN) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Lumen Technologies (NYSE:LUMN) from a sell rating to a hold rating in a report released on Sunday morning.

Other research analysts have also issued research reports about the stock. Raymond James Financial increased their target price on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. The Goldman Sachs Group lifted their price objective on Lumen Technologies from $4.10 to $4.60 and gave the company a “neutral” rating in a research note on Friday, October 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lumen Technologies in a research note on Wednesday, October 8th. Finally, Citigroup lowered Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 target price on the stock. in a report on Friday, October 31st. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Lumen Technologies presently has an average rating of “Hold” and an average target price of $5.97.

Lumen Technologies Stock Performance

LUMN traded down $0.02 on Friday, reaching $10.50. The stock had a trading volume of 22,394,185 shares, compared to its average volume of 14,316,032. The company has a market cap of $10.77 billion, a P/E ratio of -8.90 and a beta of 1.45. Lumen Technologies has a 12-month low of $3.01 and a 12-month high of $11.95. The business’s 50-day moving average price is $7.09 and its two-hundred day moving average price is $5.22. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 59.98.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Friday, January 27th. The technology company reported $0.49 EPS for the quarter. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 9.19%.The company had revenue of $4.05 billion during the quarter. Sell-side analysts forecast that Lumen Technologies will post -0.87 earnings per share for the current year.

Insiders Place Their Bets

In other Lumen Technologies news, CFO Christopher Stansbury acquired 42,000 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were bought at an average cost of $4.29 per share, for a total transaction of $180,180.00. Following the acquisition, the chief financial officer directly owned 518,000 shares of the company’s stock, valued at $2,222,220. This trade represents a 8.82% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wealth Alliance LLC bought a new position in shares of Lumen Technologies in the third quarter worth $86,000. Crestwood Advisors Group LLC bought a new position in Lumen Technologies during the 3rd quarter valued at $64,000. Vanguard Group Inc. boosted its holdings in Lumen Technologies by 1.2% during the third quarter. Vanguard Group Inc. now owns 113,552,549 shares of the technology company’s stock worth $694,942,000 after buying an additional 1,295,177 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Lumen Technologies by 24.5% in the third quarter. Fifth Third Bancorp now owns 5,343 shares of the technology company’s stock valued at $33,000 after buying an additional 1,051 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its position in Lumen Technologies by 0.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 493,518 shares of the technology company’s stock worth $3,020,000 after purchasing an additional 3,038 shares in the last quarter. Institutional investors and hedge funds own 66.19% of the company’s stock.

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.