Lumen Technologies Target of Unusually High Options Trading (NYSE:LUMN)

Lumen Technologies, Inc. (NYSE:LUMN) saw some unusual options trading activity on Wednesday. Stock investors acquired 77,816 call options on the company. This is an increase of 341% compared to the typical volume of 17,655 call options.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Lumen Technologies

Institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC boosted its position in Lumen Technologies by 3.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 76,905 shares of the technology company’s stock valued at $408,000 after purchasing an additional 2,220 shares during the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of Lumen Technologies by 7.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 34,225 shares of the technology company’s stock valued at $182,000 after purchasing an additional 2,457 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of Lumen Technologies by 20.3% in the 4th quarter. Los Angeles Capital Management LLC now owns 14,760 shares of the technology company’s stock valued at $78,000 after purchasing an additional 2,489 shares during the last quarter. Avior Wealth Management LLC boosted its holdings in Lumen Technologies by 6.8% in the fourth quarter. Avior Wealth Management LLC now owns 41,845 shares of the technology company’s stock worth $222,000 after purchasing an additional 2,657 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its position in Lumen Technologies by 15.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 20,852 shares of the technology company’s stock worth $111,000 after buying an additional 2,844 shares during the last quarter. Institutional investors and hedge funds own 66.19% of the company’s stock.

Lumen Technologies Stock Performance

Shares of Lumen Technologies stock opened at $4.17 on Thursday. The business has a fifty day simple moving average of $4.95 and a 200-day simple moving average of $6.06. The stock has a market cap of $4.22 billion, a PE ratio of -83.28 and a beta of 1.28. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 37.70. Lumen Technologies has a 12 month low of $0.97 and a 12 month high of $10.33.

Lumen Technologies (NYSE:LUMN) last issued its earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.14. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. On average, sell-side analysts anticipate that Lumen Technologies will post -0.87 EPS for the current fiscal year.

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.