Lumen Technologies, Inc. (NYSE:LUMN – Get Free Report)’s stock price rose 4.7% during mid-day trading on Tuesday . The stock traded as high as $1.77 and last traded at $1.77. Approximately 2,243,314 shares traded hands during trading, a decline of 84% from the average daily volume of 14,248,681 shares. The stock had previously closed at $1.69.
Analyst Ratings Changes
Separately, The Goldman Sachs Group dropped their price target on Lumen Technologies from $3.00 to $1.50 and set a “neutral” rating on the stock in a research report on Thursday, November 9th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $1.81.
Lumen Technologies Stock Performance
The stock has a 50-day moving average price of $1.55 and a two-hundred day moving average price of $1.47. The company has a debt-to-equity ratio of 47.56, a current ratio of 1.35 and a quick ratio of 1.35.
Lumen Technologies (NYSE:LUMN – Get Free Report) last issued its quarterly earnings data on Tuesday, February 6th. The technology company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.11. The firm had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.45 billion. Lumen Technologies had a positive return on equity of 4.85% and a negative net margin of 70.74%. The business’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same period last year, the company earned $0.43 EPS. Research analysts forecast that Lumen Technologies, Inc. will post -0.3 earnings per share for the current year.
Insider Activity
In other news, Director James Fowler bought 33,500 shares of the stock in a transaction dated Tuesday, February 13th. The stock was bought at an average price of $1.68 per share, for a total transaction of $56,280.00. Following the purchase, the director now directly owns 216,538 shares in the company, valued at approximately $363,783.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director James Fowler bought 33,500 shares of the stock in a transaction dated Tuesday, February 13th. The stock was bought at an average price of $1.68 per share, for a total transaction of $56,280.00. Following the purchase, the director now directly owns 216,538 shares in the company, valued at approximately $363,783.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director T Michael Glenn bought 50,000 shares of the stock in a transaction dated Monday, February 26th. The stock was purchased at an average price of $1.47 per share, with a total value of $73,500.00. Following the purchase, the director now owns 272,019 shares in the company, valued at $399,867.93. The disclosure for this purchase can be found here. Insiders bought a total of 113,500 shares of company stock worth $174,780 in the last quarter. 0.76% of the stock is owned by company insiders.
Institutional Trading of Lumen Technologies
Several large investors have recently modified their holdings of the company. Virtu Financial LLC bought a new stake in Lumen Technologies during the 4th quarter valued at $264,000. FIL Ltd boosted its position in Lumen Technologies by 8.0% during the 4th quarter. FIL Ltd now owns 220,439 shares of the technology company’s stock valued at $403,000 after acquiring an additional 16,422 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Lumen Technologies by 14.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 790,959 shares of the technology company’s stock valued at $1,448,000 after acquiring an additional 97,532 shares in the last quarter. Sanibel Captiva Trust Company Inc. purchased a new stake in shares of Lumen Technologies during the 4th quarter valued at $27,000. Finally, Virtus ETF Advisers LLC lifted its holdings in shares of Lumen Technologies by 22.6% during the 4th quarter. Virtus ETF Advisers LLC now owns 131,621 shares of the technology company’s stock valued at $241,000 after purchasing an additional 24,281 shares during the last quarter. Institutional investors own 69.72% 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.