Lumen Technologies (NYSE:LUMN) Shares Gap Down to $5.57

Lumen Technologies, Inc. (NYSE:LUMN)’s share price gapped down prior to trading on Monday . The stock had previously closed at $5.57, but opened at $5.35. Lumen Technologies shares last traded at $4.95, with a volume of 9,107,451 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Moffett Nathanson raised their price objective on Lumen Technologies from $1.00 to $3.00 and gave the stock a “sell” rating in a research report on Wednesday, August 7th. Bank of America lifted their price target on shares of Lumen Technologies from $1.00 to $2.00 and gave the company an “underperform” rating in a research report on Thursday. Citigroup raised shares of Lumen Technologies from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $1.25 to $3.15 in a research report on Tuesday, August 6th. JPMorgan Chase & Co. raised Lumen Technologies from an “underweight” rating to a “neutral” rating in a research report on Wednesday, August 7th. Finally, The Goldman Sachs Group upgraded Lumen Technologies from a “sell” rating to a “neutral” rating and raised their price target for the stock from $1.00 to $4.00 in a research report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $3.53.

Lumen Technologies Price Performance

The company has a debt-to-equity ratio of 36.89, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $4.74 billion, a price-to-earnings ratio of -0.45 and a beta of 1.14. The company has a 50 day moving average of $1.75 and a 200 day moving average of $1.55.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.07). Lumen Technologies had a positive return on equity of 4.06% and a negative net margin of 76.21%. The firm had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter in the prior year, the firm earned $0.10 EPS. The firm’s revenue was down 10.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Lumen Technologies, Inc. will post -0.23 EPS for the current year.

Hedge Funds Weigh In On Lumen Technologies

Several large investors have recently bought and sold shares of LUMN. Arizona State Retirement System lifted its position in shares of Lumen Technologies by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 282,687 shares of the technology company’s stock worth $311,000 after buying an additional 5,418 shares during the last quarter. Guardian Capital LP increased its position in shares of Lumen Technologies by 53.5% during the fourth quarter. Guardian Capital LP now owns 22,145 shares of the technology company’s stock worth $41,000 after purchasing an additional 7,717 shares in the last quarter. ORG Partners LLC lifted its holdings in shares of Lumen Technologies by 54.0% in the 4th quarter. ORG Partners LLC now owns 22,580 shares of the technology company’s stock valued at $41,000 after purchasing an additional 7,920 shares during the last quarter. Texas Permanent School Fund Corp boosted its position in shares of Lumen Technologies by 0.9% in the 2nd quarter. Texas Permanent School Fund Corp now owns 888,228 shares of the technology company’s stock valued at $977,000 after purchasing an additional 7,922 shares during the period. Finally, Triumph Capital Management increased its position in Lumen Technologies by 4.2% during the fourth quarter. Triumph Capital Management now owns 221,410 shares of the technology company’s stock worth $405,000 after buying an additional 8,867 shares during the period. Hedge funds and other institutional investors own 66.19% of the company’s stock.

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.