Lumen Technologies (NYSE:LUMN) Coverage Initiated by Analysts at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of Lumen Technologies (NYSE:LUMN) in a research report sent to investors on Monday, MarketBeat reports. The firm issued a sell rating and a $1.00 price target on the technology company’s stock.

Lumen Technologies Stock Performance

NYSE LUMN opened at $1.04 on Monday. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -0.10 and a beta of 1.15. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 36.89. The business’s 50 day moving average is $1.21 and its two-hundred day moving average is $1.43. Lumen Technologies has a 12-month low of $0.78 and a 12-month high of $2.34.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings results on Tuesday, April 30th. The technology company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). The firm had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.38 billion. Lumen Technologies had a positive return on equity of 4.06% and a negative net margin of 76.21%. The business’s revenue was down 12.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 EPS. Research analysts expect that Lumen Technologies will post -0.16 EPS for the current year.

Insider Buying and Selling

In related news, CEO Kathleen E. Johnson bought 750,000 shares of Lumen Technologies stock in a transaction that occurred on Thursday, May 2nd. The shares were purchased at an average price of $1.28 per share, with a total value of $960,000.00. Following the purchase, the chief executive officer now owns 7,756,290 shares in the company, valued at $9,928,051.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.68% of the company’s stock.

Institutional Investors Weigh In On Lumen Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Guardian Capital LP lifted its stake in Lumen Technologies by 53.5% in the 4th quarter. Guardian Capital LP now owns 22,145 shares of the technology company’s stock valued at $41,000 after buying an additional 7,717 shares in the last quarter. ORG Partners LLC lifted its stake in shares of Lumen Technologies by 54.0% during the 4th quarter. ORG Partners LLC now owns 22,580 shares of the technology company’s stock worth $41,000 after purchasing an additional 7,920 shares during the period. Compagnie Lombard Odier SCmA lifted its stake in shares of Lumen Technologies by 36.4% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 30,000 shares of the technology company’s stock worth $55,000 after purchasing an additional 8,000 shares during the period. Belpointe Asset Management LLC lifted its stake in shares of Lumen Technologies by 52.1% during the 3rd quarter. Belpointe Asset Management LLC now owns 24,527 shares of the technology company’s stock worth $35,000 after purchasing an additional 8,405 shares during the period. Finally, Triumph Capital Management lifted its stake in shares of Lumen Technologies by 4.2% during the 4th quarter. Triumph Capital Management now owns 221,410 shares of the technology company’s stock worth $405,000 after purchasing an additional 8,867 shares during the period. Hedge funds and other institutional investors 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.