Lumen Technologies (NYSE:LUMN) Shares Up 5% – Should You Buy?

Lumen Technologies, Inc. (NYSE:LUMN)’s share price was up 5% on Friday . The stock traded as high as $6.64 and last traded at $6.49. Approximately 3,853,617 shares traded hands during trading, a decline of 81% from the average daily volume of 19,789,490 shares. The stock had previously closed at $6.18.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Citigroup raised Lumen Technologies from a “sell” rating to a “neutral” rating and increased their price target for the stock from $1.25 to $3.15 in a research note on Tuesday, August 6th. TD Cowen increased their target price on shares of Lumen Technologies from $2.50 to $7.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Bank of America boosted their price target on shares of Lumen Technologies from $1.00 to $2.00 and gave the stock an “underperform” rating in a research report on Thursday, August 8th. The Goldman Sachs Group increased their price objective on shares of Lumen Technologies from $4.00 to $4.50 and gave the company a “neutral” rating in a report on Friday, October 4th. Finally, JPMorgan Chase & Co. upgraded shares of Lumen Technologies from an “underweight” rating to a “neutral” rating in a research note on Wednesday, August 7th. Three analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat, Lumen Technologies currently has an average rating of “Hold” and a consensus price target of $4.09.

Lumen Technologies Price Performance

The company has a market cap of $6.88 billion, a price-to-earnings ratio of -0.59 and a beta of 1.19. The company’s 50 day moving average price is $6.07 and its 200-day moving average price is $3.09. The company has a debt-to-equity ratio of 39.51, a quick ratio of 1.01 and a current ratio of 1.01.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.07). Lumen Technologies had a negative return on equity of 18.52% and a negative net margin of 15.06%. The business had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.25 billion. During the same quarter last year, the firm posted $0.10 EPS. The company’s quarterly revenue was down 10.7% compared to the same quarter last year. On average, equities research analysts forecast that Lumen Technologies, Inc. will post -0.18 earnings per share for the current fiscal year.

Insider Activity at Lumen Technologies

In other news, Director James Fowler bought 10,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average cost of $4.70 per share, for a total transaction of $47,000.00. Following the completion of the acquisition, the director now directly owns 384,056 shares in the company, valued at $1,805,063.20. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 1.68% of the stock is currently owned by corporate insiders.

Institutional Trading of Lumen Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Quadrature Capital Ltd purchased a new position in Lumen Technologies during the first quarter valued at approximately $468,000. Mackenzie Financial Corp increased its stake in shares of Lumen Technologies by 267.4% in the second quarter. Mackenzie Financial Corp now owns 236,390 shares of the technology company’s stock worth $260,000 after acquiring an additional 172,040 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Lumen Technologies by 22.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,190,256 shares of the technology company’s stock worth $3,198,000 after acquiring an additional 401,399 shares in the last quarter. Algert Global LLC acquired a new stake in Lumen Technologies during the second quarter valued at $112,000. Finally, Front Street Capital Management Inc. grew its stake in Lumen Technologies by 30.1% in the second quarter. Front Street Capital Management Inc. now owns 11,661,112 shares of the technology company’s stock valued at $12,827,000 after purchasing an additional 2,697,423 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.