Lumen Technologies (NYSE:LUMN) Shares Gap Up – Should You Buy?

Lumen Technologies, Inc. (NYSE:LUMN) shares gapped up prior to trading on Wednesday . The stock had previously closed at $4.44, but opened at $4.89. Lumen Technologies shares last traded at $4.86, with a volume of 3,943,086 shares traded.

Analysts Set New Price Targets

A number of equities analysts recently commented 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 objective for the company in a research note on Friday, February 21st. TD Cowen lowered their price target on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. Citigroup raised Lumen Technologies from a “neutral” rating to a “buy” rating and dropped their price target for the company from $8.00 to $6.50 in a research report on Wednesday. The Goldman Sachs Group lifted their target price on Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $4.25 price target on shares of Lumen Technologies in a report on Monday, February 10th. Two equities 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 company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $4.59.

Lumen Technologies Price Performance

The company’s 50-day simple moving average is $5.27 and its 200 day simple moving average is $6.17. The company has a market capitalization of $4.89 billion, a P/E ratio of -96.68 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 (NYSE:LUMN) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, sell-side analysts expect that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Mackenzie Financial Corp grew its holdings in Lumen Technologies by 1,127.7% during the fourth quarter. Mackenzie Financial Corp now owns 790,031 shares of the technology company’s stock valued at $4,195,000 after purchasing an additional 725,681 shares during the last quarter. Forum Financial Management LP grew its stake in Lumen Technologies by 72.5% in the 4th quarter. Forum Financial Management LP now owns 27,552 shares of the technology company’s stock valued at $146,000 after buying an additional 11,581 shares during the last quarter. Breakthru Advisory Services LLC acquired a new position in Lumen Technologies during the 4th quarter worth $107,000. Alpine Global Management LLC bought a new stake in Lumen Technologies during the fourth quarter valued at about $166,000. Finally, DCM Advisors LLC grew its position in shares of Lumen Technologies by 45.7% in the fourth quarter. DCM Advisors LLC now owns 41,672 shares of the technology company’s stock valued at $221,000 after purchasing an additional 13,072 shares during the last quarter. 66.19% of the stock is owned by institutional investors.

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.