Lumen Technologies (NYSE:LUMN) Shares Up 6.1% – Time to Buy?

Lumen Technologies, Inc. (NYSE:LUMN) was up 6.1% during trading on Tuesday . The company traded as high as $9.08 and last traded at $9.1560. Approximately 1,755,548 shares traded hands during trading, a decline of 84% from the average daily volume of 10,997,148 shares. The stock had previously closed at $8.63.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LUMN. Wall Street Zen upgraded shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. Royal Bank Of Canada lifted their target price on Lumen Technologies from $4.25 to $8.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Lumen Technologies in a research note on Thursday, January 22nd. The Goldman Sachs Group boosted their target price on shares of Lumen Technologies from $4.10 to $4.60 and gave the company a “neutral” rating in a research note on Friday, October 3rd. Finally, Zacks Research raised shares of Lumen Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Lumen Technologies has a consensus rating of “Hold” and an average price target of $6.72.

Lumen Technologies Stock Performance

The company has a 50 day moving average price of $8.22 and a two-hundred day moving average price of $6.90. The firm has a market capitalization of $9.15 billion, a price-to-earnings ratio of -5.41 and a beta of 1.46.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Thursday, October 30th. The technology company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.11. Lumen Technologies had a negative net margin of 13.02% and a negative return on equity of 158.40%. The company had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same quarter in the previous year, the firm earned ($0.13) EPS. The firm’s revenue was down 4.2% compared to the same quarter last year. On average, equities analysts expect that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lumen Technologies

Several large investors have recently bought and sold shares of LUMN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Lumen Technologies by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 602,705 shares of the technology company’s stock worth $2,363,000 after acquiring an additional 26,305 shares during the last quarter. Empowered Funds LLC boosted its stake in Lumen Technologies by 26.8% during the 1st quarter. Empowered Funds LLC now owns 272,031 shares of the technology company’s stock worth $1,066,000 after purchasing an additional 57,522 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Lumen Technologies by 11.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,985,216 shares of the technology company’s stock worth $11,702,000 after buying an additional 300,328 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Lumen Technologies by 4.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 292,777 shares of the technology company’s stock valued at $1,347,000 after buying an additional 12,988 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of Lumen Technologies by 132.3% in the second quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company’s stock worth $26,000 after buying an additional 3,391 shares in the last quarter. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

About Lumen Technologies

Lumen Technologies is a multinational technology company specializing in integrated network, edge cloud, security and collaboration services for enterprise and public sector clients. The company’s core offerings include high-capacity fiber and IP-based connectivity, managed edge computing solutions designed to accelerate applications and data processing closer to end users, and cybersecurity services ranging from DDoS protection to unified threat management. Through its unified portfolio, Lumen enables organizations to support digital transformation initiatives, modernize infrastructure and enhance operational resilience.

Leveraging one of the largest fiber footprints in North America, as well as infrastructure in Latin America and parts of Europe, Lumen connects customers across more than 60 countries.