Lumen Technologies (NYSE:LUMN) Trading Up 4.5% – Time to Buy?

Lumen Technologies, Inc. (NYSE:LUMN) traded up 4.5% on Wednesday . The company traded as high as $6.26 and last traded at $6.26. 1,973,735 shares traded hands during trading, a decline of 90% from the average session volume of 19,202,723 shares. The stock had previously closed at $5.99.

Wall Street Analysts Forecast Growth

LUMN has been the subject of several analyst reports. TD Cowen dropped their target price on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Citigroup upped their price objective on shares of Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a report on Friday, November 29th. Finally, The Goldman Sachs Group lifted their target price on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, Lumen Technologies has a consensus rating of “Hold” and an average price target of $4.71.

Lumen Technologies Stock Up 4.7 %

The stock has a market capitalization of $6.15 billion, a price-to-earnings ratio of -2.79 and a beta of 1.21. The business has a 50-day moving average of $7.14 and a 200-day moving average of $4.95. The company has a debt-to-equity ratio of 53.05, a quick ratio of 1.20 and a current ratio of 1.20.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings results on Tuesday, November 5th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.04). The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.21 billion. Lumen Technologies had a negative net margin of 16.06% and a negative return on equity of 49.74%. Lumen Technologies’s revenue was down 11.5% on a year-over-year basis. During the same period last year, the firm posted ($0.09) earnings per share. On average, sell-side analysts expect that Lumen Technologies, Inc. will post -0.38 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Concord Wealth Partners lifted its position in shares of Lumen Technologies by 98.8% during the third quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock worth $28,000 after purchasing an additional 1,992 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in Lumen Technologies during the 3rd quarter worth approximately $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Lumen Technologies in the 3rd quarter valued at approximately $36,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Lumen Technologies in the third quarter worth $46,000. Finally, GAMMA Investing LLC grew its stake in shares of Lumen Technologies by 1,901.8% in the third quarter. GAMMA Investing LLC now owns 6,846 shares of the technology company’s stock worth $49,000 after acquiring an additional 6,504 shares in the last quarter. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

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.