Lumen Technologies (NYSE:LUMN) Upgraded to “Neutral” at Moffett Nathanson

Moffett Nathanson upgraded shares of Lumen Technologies (NYSE:LUMN) from a sell rating to a neutral rating in a report released on Friday, Marketbeat Ratings reports. The firm currently has $4.00 target price on the technology company’s stock.

A number of other research analysts also recently commented on LUMN. Citigroup lowered their price objective on Lumen Technologies from $10.00 to $8.25 and set a “neutral” rating for the company in a research note on Tuesday, August 11th. Wells Fargo & Company reduced their price target on shares of Lumen Technologies from $9.00 to $7.50 and set an “equal weight” rating for the company in a report on Wednesday, August 5th. Wall Street Zen upgraded shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. The Goldman Sachs Group dropped their price objective on shares of Lumen Technologies from $8.50 to $7.25 and set a “neutral” rating on the stock in a report on Wednesday, August 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lumen Technologies in a report on Friday, July 17th. Ten analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $7.38.

Lumen Technologies Stock Up 1.9%

Shares of LUMN stock opened at $4.88 on Friday. The business has a 50 day moving average of $5.73 and a two-hundred day moving average of $7.25. Lumen Technologies has a 52 week low of $4.25 and a 52 week high of $11.95. The company has a market cap of $5.03 billion, a P/E ratio of -4.78 and a beta of 1.84.

Lumen Technologies (NYSE:LUMN) last posted its earnings results on Tuesday, August 4th. The technology company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.06. The company had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.74 billion. The firm’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same period last year, the company posted ($0.03) earnings per share. Analysts expect that Lumen Technologies will post -0.54 EPS for the current fiscal year.

Insider Buying and Selling at Lumen Technologies

In related news, CEO Kathleen Johnson acquired 100,000 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were acquired at an average cost of $6.13 per share, for a total transaction of $613,000.00. Following the completion of the purchase, the chief executive officer directly owned 100,000 shares in the company, valued at $613,000. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lumen Technologies

Large investors have recently bought and sold shares of the stock. Covestor Ltd lifted its holdings in shares of Lumen Technologies by 846.9% in the third quarter. Covestor Ltd now owns 9,507 shares of the technology company’s stock valued at $54,000 after buying an additional 8,503 shares during the period. ProShare Advisors LLC grew its holdings in Lumen Technologies by 3.3% during the third quarter. ProShare Advisors LLC now owns 150,188 shares of the technology company’s stock worth $841,000 after acquiring an additional 4,770 shares during the period. Vise Technologies Inc. acquired a new position in Lumen Technologies during the third quarter worth about $66,000. State of Wyoming raised its position in Lumen Technologies by 204.4% in the third quarter. State of Wyoming now owns 26,753 shares of the technology company’s stock worth $150,000 after acquiring an additional 17,965 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in Lumen Technologies by 23.6% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 404,300 shares of the technology company’s stock worth $2,264,000 after acquiring an additional 77,100 shares in the last quarter. Institutional investors and hedge funds own 66.19% of the company’s stock.

Lumen Technologies Company Profile

Lumen Technologies, Inc is a communications and technology company that provides network, connectivity, cloud, cybersecurity and managed services primarily to businesses, government organizations and wholesale customers. Its offerings include fiber-based internet and data transport, software-defined networking, network security, unified communications, voice services, edge computing and related information technology solutions.

The company operates one of the largest enterprise fiber networks in the United States and also serves customers internationally through its global network and wholesale operations.