Blueshift Asset Management LLC Invests $148,000 in Lumen Technologies, Inc. (NYSE:LUMN)

Blueshift Asset Management LLC acquired a new stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 27,950 shares of the technology company’s stock, valued at approximately $148,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LUMN. Los Angeles Capital Management LLC grew its position in shares of Lumen Technologies by 20.3% during the fourth quarter. Los Angeles Capital Management LLC now owns 14,760 shares of the technology company’s stock worth $78,000 after purchasing an additional 2,489 shares in the last quarter. Avior Wealth Management LLC grew its stake in Lumen Technologies by 6.8% during the fourth quarter. Avior Wealth Management LLC now owns 41,845 shares of the technology company’s stock valued at $222,000 after acquiring an additional 2,657 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Lumen Technologies by 15.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 20,852 shares of the technology company’s stock valued at $111,000 after purchasing an additional 2,844 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in shares of Lumen Technologies by 8.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 39,037 shares of the technology company’s stock valued at $207,000 after purchasing an additional 3,109 shares in the last quarter. Finally, Ballentine Partners LLC increased its holdings in shares of Lumen Technologies by 14.8% in the fourth quarter. Ballentine Partners LLC now owns 30,074 shares of the technology company’s stock worth $160,000 after purchasing an additional 3,868 shares during the last quarter. 66.19% of the stock is owned by hedge funds and other institutional investors.

Lumen Technologies Price Performance

LUMN opened at $4.94 on Friday. The company has a market capitalization of $5.00 billion, a price-to-earnings ratio of -98.68 and a beta of 1.28. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70. Lumen Technologies, Inc. has a 12-month low of $0.97 and a 12-month high of $10.33. The business’s fifty day simple moving average is $5.01 and its 200-day simple moving average is $6.08.

Lumen Technologies (NYSE:LUMN) last posted its earnings results on Tuesday, February 4th. The technology company reported $0.09 EPS for the quarter, beating 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%. On average, equities research analysts anticipate that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on LUMN shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $4.25 price objective on shares of Lumen Technologies in a research report on Monday, February 10th. Citigroup upgraded Lumen Technologies from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $8.00 to $6.50 in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company raised shares of Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price objective for the company in a research note on Friday, February 21st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.59.

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.