Dynamic Technology Lab Private Ltd Takes Position in Lumen Technologies, Inc. (NYSE:LUMN)

Dynamic Technology Lab Private Ltd acquired a new position in Lumen Technologies, Inc. (NYSE:LUMN) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 113,901 shares of the technology company’s stock, valued at approximately $605,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Empowered Funds LLC bought a new position in shares of Lumen Technologies during the fourth quarter valued at $1,139,000. Strategic Financial Concepts LLC lifted its stake in Lumen Technologies by 430.7% during the 4th quarter. Strategic Financial Concepts LLC now owns 179,335 shares of the technology company’s stock valued at $952,000 after acquiring an additional 145,542 shares during the period. Polianta Ltd purchased a new stake in shares of Lumen Technologies during the 4th quarter valued at about $692,000. Mariner Investment Group LLC bought a new stake in shares of Lumen Technologies in the fourth quarter worth approximately $531,000. Finally, Geode Capital Management LLC lifted its position in Lumen Technologies by 1.7% during the third quarter. Geode Capital Management LLC now owns 23,344,313 shares of the technology company’s stock valued at $165,776,000 after purchasing an additional 383,693 shares during the period. 66.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on LUMN. Wells Fargo & Company raised shares of Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 target price for the company in a research report on Friday, February 21st. Royal Bank of Canada reissued a “sector perform” rating and issued a $4.25 target price on shares of Lumen Technologies in a research report on Monday, February 10th. Finally, Citigroup upgraded Lumen Technologies from a “neutral” rating to a “buy” rating and cut their price target for the company from $8.00 to $6.50 in a research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $4.59.

Lumen Technologies Stock Up 4.7 %

NYSE LUMN opened at $3.43 on Tuesday. Lumen Technologies, Inc. has a 52 week low of $0.97 and a 52 week high of $10.33. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 37.70. The company has a market capitalization of $3.51 billion, a P/E ratio of -68.49 and a beta of 1.29. The stock’s 50-day moving average price is $4.66 and its 200-day moving average price is $5.93.

Lumen Technologies (NYSE:LUMN) last released its earnings results on Tuesday, February 4th. The technology company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.14. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. On average, equities research analysts predict that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.

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.