Lumen Technologies (NYSE:LUMN) Trading Up 6.2% – Here’s Why

Lumen Technologies, Inc. (NYSE:LUMN) shares traded up 6.2% on Monday . The company traded as high as $11.11 and last traded at $10.9190. 9,454,571 shares changed hands during mid-day trading, a decline of 32% from the average session volume of 13,937,051 shares. The stock had previously closed at $10.28.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lumen Technologies in a research note on Wednesday, October 8th. The Goldman Sachs Group upped their price target 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. Citigroup cut shares of Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 price target on the stock. in a research note on Friday. Raymond James Financial upped their price target on shares of Lumen Technologies from $4.50 to $5.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Finally, Wall Street Zen cut shares of Lumen Technologies from a “hold” rating to a “sell” rating in a research note on Saturday. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $5.98.

Lumen Technologies Stock Up 8.4%

The company’s 50 day simple moving average is $6.49 and its 200-day simple moving average is $4.95. The firm has a market capitalization of $11.44 billion, a PE ratio of -9.45 and a beta of 1.45. The company has a debt-to-equity ratio of 59.98, a quick ratio of 2.13 and a current ratio of 2.13.

Lumen Technologies (NYSE:LUMN) last released its earnings results on Friday, January 27th. The technology company reported $0.49 EPS for the quarter. Lumen Technologies had a negative net margin of 9.19% and a negative return on equity of 158.40%. The company had revenue of $4.05 billion for the quarter. On average, analysts forecast that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Insider Buying and Selling at Lumen Technologies

In other Lumen Technologies news, CFO Christopher Stansbury bought 42,000 shares of Lumen Technologies stock in a transaction that occurred on Thursday, August 14th. The shares were bought at an average price of $4.29 per share, with a total value of $180,180.00. Following the acquisition, the chief financial officer owned 518,000 shares in the company, valued at approximately $2,222,220. This trade represents a 8.82% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kathleen E. Johnson purchased 135,870 shares of the business’s stock in a transaction on Tuesday, August 5th. The stock was purchased at an average cost of $3.69 per share, for a total transaction of $501,360.30. Following the acquisition, the chief executive officer owned 9,616,947 shares in the company, valued at approximately $35,486,534.43. The trade was a 1.43% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have purchased 217,870 shares of company stock worth $859,140. 2.30% of the stock is owned by insiders.

Institutional Trading of Lumen Technologies

A number of large investors have recently made changes to their positions in LUMN. Farther Finance Advisors LLC grew 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 acquiring an additional 3,391 shares during the period. MRP Capital Investments LLC grew its position in Lumen Technologies by 160.0% during the second quarter. MRP Capital Investments LLC now owns 6,500 shares of the technology company’s stock valued at $28,000 after buying an additional 4,000 shares during the period. Caitong International Asset Management Co. Ltd grew its position in Lumen Technologies by 3,527.9% during the second quarter. Caitong International Asset Management Co. Ltd now owns 6,639 shares of the technology company’s stock valued at $29,000 after buying an additional 6,456 shares during the period. Meeder Advisory Services Inc. bought a new stake in Lumen Technologies during the first quarter valued at approximately $41,000. Finally, OneDigital Investment Advisors LLC bought a new stake in Lumen Technologies during the first quarter valued at approximately $41,000. 66.19% of the stock is currently 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.