Lumen Technologies (NYSE:LUMN) Stock Price Up 4.8%

Lumen Technologies, Inc. (NYSE:LUMN)’s share price rose 4.8% during trading on Wednesday . The company traded as high as $5.34 and last traded at $5.25. Approximately 16,065,045 shares traded hands during mid-day trading, a decline of 19% from the average daily volume of 19,744,410 shares. The stock had previously closed at $5.01.

Analyst Ratings Changes

LUMN has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised Lumen Technologies from an “underweight” rating to a “neutral” rating in a research note on Wednesday, August 7th. Moffett Nathanson boosted their price objective on Lumen Technologies from $1.00 to $3.00 and gave the stock a “sell” rating in a research note on Wednesday, August 7th. Bank of America upped their price target on Lumen Technologies from $1.00 to $2.00 and gave the company an “underperform” rating in a research note on Thursday, August 8th. Citigroup raised Lumen Technologies from a “sell” rating to a “neutral” rating and upped their price target for the company from $1.25 to $3.15 in a research note on Tuesday, August 6th. Finally, The Goldman Sachs Group raised Lumen Technologies from a “sell” rating to a “neutral” rating and upped their price target for the company from $1.00 to $4.00 in a research note on Wednesday, August 7th. Three analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat, Lumen Technologies has an average rating of “Hold” and a consensus price target of $3.53.

Lumen Technologies Stock Up 14.6 %

The firm has a 50 day simple moving average of $1.89 and a two-hundred day simple moving average of $1.60. The company has a debt-to-equity ratio of 36.89, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $5.83 billion, a price-to-earnings ratio of -0.48 and a beta of 1.14.

Lumen Technologies (NYSE:LUMN) last released its earnings results on Tuesday, August 6th. The technology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.07). Lumen Technologies had a negative net margin of 76.21% and a positive return on equity of 4.06%. The company had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.25 billion. During the same period in the previous year, the company posted $0.10 EPS. The company’s quarterly revenue was down 10.7% compared to the same quarter last year. As a group, sell-side analysts expect that Lumen Technologies, Inc. will post -0.23 EPS for the current year.

Hedge Funds Weigh In On Lumen Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Sawgrass Asset Management LLC increased its holdings in shares of Lumen Technologies by 68.5% in the second quarter. Sawgrass Asset Management LLC now owns 22,786 shares of the technology company’s stock worth $25,000 after acquiring an additional 9,263 shares in the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in shares of Lumen Technologies in the second quarter worth about $26,000. Brighton Jones LLC bought a new stake in shares of Lumen Technologies in the fourth quarter worth about $27,000. HighPoint Advisor Group LLC bought a new stake in shares of Lumen Technologies in the fourth quarter worth about $27,000. Finally, Fifth Third Wealth Advisors LLC bought a new stake in shares of Lumen Technologies in the second quarter worth about $33,000. 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.