Lumen Technologies (NYSE:LUMN) Stock Rating Upgraded by Citigroup

Lumen Technologies (NYSE:LUMN) was upgraded by equities research analysts at Citigroup from a “neutral” rating to a “buy” rating in a report released on Wednesday,Briefing.com Automated Import reports. The firm presently has a $6.50 target price on the technology company’s stock, down from their prior target price of $8.00. Citigroup’s target price would suggest a potential upside of 46.23% from the stock’s current price.

Several other analysts have also issued reports on the company. Wells Fargo & Company upgraded Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 target price on the stock in a report on Friday, February 21st. TD Cowen cut their price objective on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. The Goldman Sachs Group boosted their target price on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $4.25 price target on shares of Lumen Technologies in a research note on Monday, February 10th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $4.59.

Lumen Technologies Trading Up 2.7 %

Shares of NYSE:LUMN opened at $4.45 on Wednesday. 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 firm has a market cap of $4.51 billion, a price-to-earnings ratio of -88.88 and a beta of 1.28. Lumen Technologies has a 12 month low of $0.97 and a 12 month high of $10.33. The company’s fifty day simple moving average is $5.27 and its 200 day simple moving average is $6.17.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings data 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%. As a group, research analysts forecast that Lumen Technologies will post -0.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of LUMN. Concord Wealth Partners boosted its holdings in shares of Lumen Technologies by 98.8% during the third quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock worth $28,000 after acquiring an additional 1,992 shares during the period. Legacy Investment Solutions LLC acquired a new stake in Lumen Technologies during the 3rd quarter worth approximately $30,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Lumen Technologies in the 3rd quarter valued at $36,000. Smartleaf Asset Management LLC increased its position in Lumen Technologies by 173.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company’s stock worth $36,000 after buying an additional 4,277 shares during the period. Finally, Lazard Asset Management LLC increased its position in Lumen Technologies by 3,825.7% during the 4th quarter. Lazard Asset Management LLC now owns 7,498 shares of the technology company’s stock worth $39,000 after buying an additional 7,307 shares during the period. Institutional investors and hedge funds own 66.19% of the company’s stock.

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.