Lumen Technologies (NYSE:LUMN) Price Target Raised to $5.00

Lumen Technologies (NYSE:LUMN) had its price target hoisted by equities research analysts at The Goldman Sachs Group from $4.50 to $5.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. The Goldman Sachs Group’s price target indicates a potential downside of 42.13% from the company’s previous close.

Several other equities analysts have also weighed in on LUMN. Moffett Nathanson upped their price objective on shares of Lumen Technologies from $1.00 to $3.00 and gave the company a “sell” rating in a report on Wednesday, August 7th. TD Cowen raised their price target on Lumen Technologies from $2.50 to $7.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Citigroup upgraded Lumen Technologies from a “sell” rating to a “neutral” rating and raised their price target for the stock from $1.25 to $3.15 in a research report on Tuesday, August 6th. Wells Fargo & Company lowered Lumen Technologies from an “equal weight” rating to an “underweight” rating and lifted their price target for the company from $1.75 to $4.00 in a research report on Friday, August 16th. Finally, Bank of America boosted their price target on Lumen Technologies from $1.00 to $2.00 and gave the stock an “underperform” rating in a research note on Thursday, August 8th. Three research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $4.16.

Lumen Technologies Stock Up 13.5 %

NYSE LUMN traded up $1.03 during trading on Wednesday, hitting $8.64. 26,827,682 shares of the company traded hands, compared to its average volume of 19,852,990. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 39.51. The business has a fifty day simple moving average of $6.32 and a 200 day simple moving average of $3.60. The company has a market capitalization of $8.79 billion, a P/E ratio of -4.03 and a beta of 1.21. Lumen Technologies has a 12 month low of $0.97 and a 12 month high of $8.77.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.07. Lumen Technologies had a negative return on equity of 18.52% and a negative net margin of 15.06%. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.21 billion. During the same quarter in the prior year, the business earned ($0.09) EPS. The business’s revenue for the quarter was down 11.5% compared to the same quarter last year. As a group, sell-side analysts predict that Lumen Technologies will post -0.59 EPS for the current year.

Insider Activity

In other Lumen Technologies news, Director James Fowler purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average price of $4.70 per share, for a total transaction of $47,000.00. Following the acquisition, the director now owns 384,056 shares of the company’s stock, valued at $1,805,063.20. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.68% of the stock is owned by insiders.

Hedge Funds Weigh In On Lumen Technologies

A number of large investors have recently modified their holdings of the stock. Plato Investment Management Ltd bought a new stake in shares of Lumen Technologies during the third quarter worth $261,000. Oppenheimer & Co. Inc. lifted its stake in shares of Lumen Technologies by 23.3% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 35,928 shares of the technology company’s stock worth $255,000 after buying an additional 6,782 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Lumen Technologies by 1,081.0% during the 3rd quarter. Victory Capital Management Inc. now owns 2,368,911 shares of the technology company’s stock worth $16,819,000 after buying an additional 2,168,325 shares during the last quarter. Prime Capital Investment Advisors LLC lifted its stake in shares of Lumen Technologies by 18.3% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 24,308 shares of the technology company’s stock worth $173,000 after buying an additional 3,756 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in shares of Lumen Technologies during the 3rd quarter worth about $183,000. 66.19% of the stock is currently owned by institutional investors and hedge funds.

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.