Lumen Technologies (NYSE:LUMN) Trading Down 9.4% – What’s Next?

Lumen Technologies, Inc. (NYSE:LUMN) fell 9.4% during mid-day trading on Tuesday . The company traded as low as $9.14 and last traded at $9.17. 8,906,497 shares were traded during mid-day trading, a decline of 55% from the average session volume of 19,984,359 shares. The stock had previously closed at $10.12.

Analysts Set New Price Targets

Several research analysts recently weighed in on LUMN shares. JPMorgan Chase & Co. raised shares of Lumen Technologies from an “underweight” rating to a “neutral” rating in a report on Wednesday, August 7th. TD Cowen cut their target price on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Wednesday, November 6th. Wells Fargo & Company cut Lumen Technologies from an “equal weight” rating to an “underweight” rating and boosted their price target for the stock from $1.75 to $4.00 in a report on Friday, August 16th. Moffett Nathanson increased their price objective on shares of Lumen Technologies from $1.00 to $3.00 and gave the company a “sell” rating in a report on Wednesday, August 7th. Finally, UBS Group upped their target price on shares of Lumen Technologies from $1.50 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, Lumen Technologies presently has a consensus rating of “Hold” and an average price target of $4.02.

Lumen Technologies Price Performance

The firm’s 50-day moving average is $6.82 and its two-hundred day moving average is $3.92. The company has a debt-to-equity ratio of 53.05, a current ratio of 1.20 and a quick ratio of 1.20. The company has a market cap of $8.76 billion, a P/E ratio of -4.09 and a beta of 1.21.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.04). The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.21 billion. Lumen Technologies had a negative return on equity of 49.74% and a negative net margin of 16.06%. The company’s revenue was down 11.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.09) earnings per share. Analysts anticipate that Lumen Technologies, Inc. will post -0.38 earnings per share for the current year.

Insider Buying and Selling

In other Lumen Technologies news, Director James Fowler bought 10,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price of $4.70 per share, for a total transaction of $47,000.00. Following the completion of the transaction, the director now directly owns 384,056 shares of the company’s stock, valued at approximately $1,805,063.20. This represents a 2.67 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lumen Technologies

A number of institutional investors and hedge funds have recently modified their holdings of LUMN. Stephens Inc. AR lifted its position in shares of Lumen Technologies by 7.7% during the third quarter. Stephens Inc. AR now owns 27,070 shares of the technology company’s stock worth $192,000 after purchasing an additional 1,935 shares during the last quarter. Concord Wealth Partners lifted its holdings in Lumen Technologies by 98.8% during the 3rd quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock valued at $28,000 after buying an additional 1,992 shares in the last quarter. US Bancorp DE boosted its position in Lumen Technologies by 18.6% in the 3rd quarter. US Bancorp DE now owns 15,012 shares of the technology company’s stock valued at $107,000 after buying an additional 2,350 shares during the period. Xponance Inc. grew its stake in Lumen Technologies by 4.0% in the 2nd quarter. Xponance Inc. now owns 64,444 shares of the technology company’s stock worth $71,000 after acquiring an additional 2,487 shares in the last quarter. Finally, Arkadios Wealth Advisors increased its position in shares of Lumen Technologies by 23.6% during the third quarter. Arkadios Wealth Advisors now owns 13,367 shares of the technology company’s stock worth $95,000 after acquiring an additional 2,554 shares during the period. 66.19% of the stock is owned by 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.