Lumen Technologies (NYSE:LUMN) Shares Up 4.5%

Lumen Technologies, Inc. (NYSE:LUMN – Get Rating) shot up 4.5% during trading on Friday . The company traded as high as $1.99 and last traded at $1.97. 3,344,611 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 29,383,873 shares. The stock had previously closed at $1.88.

Analysts Set New Price Targets

A number of research firms recently commented on LUMN. Citigroup lowered Lumen Technologies from a “neutral” rating to a “sell” rating and lowered their price target for the company from $6.25 to $3.50 in a research report on Wednesday, February 8th. Morgan Stanley lowered their price target on Lumen Technologies from $6.00 to $2.50 and set an “underweight” rating for the company in a research report on Monday, March 13th. TheStreet downgraded Lumen Technologies from a “c” rating to a “d” rating in a research note on Tuesday, February 7th. The Goldman Sachs Group reduced their price objective on Lumen Technologies from $6.00 to $4.00 and set a “neutral” rating for the company in a research note on Wednesday, February 8th. Finally, Bank of America reduced their price objective on Lumen Technologies from $4.00 to $2.00 in a research note on Thursday, May 4th. Three investment analysts have 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 stock presently has a consensus rating of “Hold” and a consensus target price of $5.11.

Lumen Technologies Stock Up 6.1 %

The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a 50 day moving average price of $2.37 and a two-hundred day moving average price of $4.04.

Lumen Technologies (NYSE:LUMN – Get Rating) last posted its quarterly earnings results on Tuesday, May 2nd. The technology company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.02). The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.73 billion. Lumen Technologies had a positive return on equity of 8.87% and a negative net margin of 9.89%. The firm’s revenue was down 20.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS. On average, equities analysts forecast that Lumen Technologies, Inc. will post 0.4 EPS for the current year.

Institutional Trading of Lumen Technologies

A number of institutional investors have recently added to or reduced their stakes in LUMN. Parkside Financial Bank & Trust raised its holdings in shares of Lumen Technologies by 2,331.1% in the 1st quarter. Parkside Financial Bank & Trust now owns 10,551 shares of the technology company’s stock valued at $28,000 after acquiring an additional 10,117 shares in the last quarter. Lindbrook Capital LLC grew its position in Lumen Technologies by 356.7% during the 1st quarter. Lindbrook Capital LLC now owns 10,879 shares of the technology company’s stock worth $29,000 after acquiring an additional 8,497 shares during the last quarter. Avidian Wealth Solutions LLC bought a new position in Lumen Technologies during the 1st quarter worth approximately $29,000. PDS Planning Inc bought a new position in Lumen Technologies during the 1st quarter worth approximately $30,000. Finally, Independent Advisor Alliance bought a new position in Lumen Technologies during the 1st quarter worth approximately $30,000. Hedge funds and other institutional investors own 76.03% of the company’s stock.

Lumen Technologies Company Profile

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Lumen Technologies, Inc is an investment holding company, which engages in the provision of integrated communications to residential and business customers. It operates through the following segments: Business and Mass Markets. Business segment provides products and services under four sales channels to enterprise and commercial customers.