Lumen Technologies (NYSE:LUMN) Trading 0.3% Higher

Shares of Lumen Technologies, Inc. (NYSE:LUMN) rose 0.3% during trading on Tuesday . The company traded as high as $5.82 and last traded at $5.78. Approximately 5,390,661 shares traded hands during trading, a decline of 73% from the average daily volume of 20,213,660 shares. The stock had previously closed at $5.76.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Bank of America increased their price objective 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. UBS Group increased their price target on Lumen Technologies from $1.50 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Wells Fargo & Company downgraded Lumen Technologies from an “equal weight” rating to an “underweight” rating and upped their price objective for the company from $1.75 to $4.00 in a research report on Friday. The Goldman Sachs Group upgraded shares of Lumen Technologies from a “sell” rating to a “neutral” rating and upped their price target for the stock from $1.00 to $4.00 in a report on Wednesday, August 7th. Finally, TD Cowen boosted their price objective 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. Four research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $3.74.

Lumen Technologies Trading Up 6.8 %

The company’s 50-day simple moving average is $2.25 and its 200 day simple moving average is $1.72. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 36.89. The firm has a market capitalization of $6.24 billion, a PE ratio of -0.55 and a beta of 1.14.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of LUMN. Brighton Jones LLC acquired a new position in Lumen Technologies in the 4th quarter worth approximately $27,000. HighPoint Advisor Group LLC acquired a new stake in shares of Lumen Technologies in the fourth quarter worth $27,000. Fidelis Capital Partners LLC raised its holdings in shares of Lumen Technologies by 94.6% during the first quarter. Fidelis Capital Partners LLC now owns 22,142 shares of the technology company’s stock worth $35,000 after purchasing an additional 10,764 shares during the last quarter. Guardian Capital LP boosted its holdings in Lumen Technologies by 53.5% in the fourth quarter. Guardian Capital LP now owns 22,145 shares of the technology company’s stock valued at $41,000 after purchasing an additional 7,717 shares during the last quarter. Finally, Sawgrass Asset Management LLC grew its position in Lumen Technologies by 68.5% during the 2nd quarter. Sawgrass Asset Management LLC now owns 22,786 shares of the technology company’s stock worth $25,000 after purchasing an additional 9,263 shares during the period. 66.19% of the stock is owned by institutional investors and hedge funds.

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.