Lumen Technologies’ (LUMN) “Sell (D-)” Rating Reiterated at Weiss Ratings

Lumen Technologies (NYSE:LUMN)‘s stock had its “sell (d-)” rating restated by equities research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Other equities research analysts have also issued reports about the company. Wall Street Zen raised Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. BNP Paribas raised Lumen Technologies to a “hold” rating in a report on Wednesday, June 25th. The Goldman Sachs Group lifted their target price on Lumen Technologies from $4.10 to $4.60 and gave the company a “neutral” rating in a report on Friday, October 3rd. Raymond James Financial boosted their price objective on Lumen Technologies from $4.50 to $5.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Finally, Citigroup boosted their price objective on Lumen Technologies from $6.00 to $7.50 and gave the stock a “buy” rating in a report on Thursday, September 25th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $5.39.

Lumen Technologies Price Performance

Shares of LUMN opened at $7.06 on Wednesday. Lumen Technologies has a 12-month low of $3.01 and a 12-month high of $10.33. The business’s fifty day moving average is $5.17 and its 200 day moving average is $4.42. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 59.98. The stock has a market cap of $7.24 billion, a P/E ratio of -5.98 and a beta of 1.45.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings results on Thursday, July 31st. The technology company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.21. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.11 billion. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 9.19%.Lumen Technologies’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.13) EPS. Sell-side analysts anticipate that Lumen Technologies will post -0.87 earnings per share for the current fiscal year.

Insider Activity at Lumen Technologies

In other news, CEO Kathleen E. Johnson bought 135,870 shares of the business’s stock in a transaction on Tuesday, August 5th. The stock was acquired at an average price of $3.69 per share, with a total value of $501,360.30. Following the completion of the purchase, the chief executive officer directly owned 9,616,947 shares in the company, valued at $35,486,534.43. This represents a 1.43% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Christopher Stansbury acquired 40,000 shares of the company’s stock in a transaction dated Friday, August 15th. The shares were bought at an average cost of $4.44 per share, with a total value of $177,600.00. Following the purchase, the chief financial officer owned 535,000 shares of the company’s stock, valued at approximately $2,375,400. This trade represents a 8.08% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 217,870 shares of company stock valued at $859,140. 2.30% of the stock is owned by insiders.

Institutional Trading of Lumen Technologies

Several large investors have recently modified their holdings of LUMN. Farther Finance Advisors LLC lifted its stake in 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 acquiring an additional 3,391 shares during the period. MRP Capital Investments LLC lifted its stake in Lumen Technologies by 160.0% in the second quarter. MRP Capital Investments LLC now owns 6,500 shares of the technology company’s stock worth $28,000 after acquiring an additional 4,000 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in Lumen Technologies by 3,527.9% in the second quarter. Caitong International Asset Management Co. Ltd now owns 6,639 shares of the technology company’s stock worth $29,000 after acquiring an additional 6,456 shares during the period. Conning Inc. purchased a new stake in Lumen Technologies in the first quarter worth $39,000. Finally, OneDigital Investment Advisors LLC purchased a new stake in Lumen Technologies in the first quarter worth $41,000. 66.19% of the stock is owned by institutional investors.

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.