Lumen Technologies (NYSE:LUMN) Trading Up 8.1% – Time to Buy?

Lumen Technologies, Inc. (NYSE:LUMN)’s stock price was up 8.1% during mid-day trading on Monday . The stock traded as high as $3.82 and last traded at $3.54. Approximately 6,729,175 shares traded hands during trading, a decline of 65% from the average daily volume of 19,004,588 shares. The stock had previously closed at $3.27.

Wall Street Analyst Weigh In

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

Lumen Technologies Price Performance

The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of -68.49 and a beta of 1.29. The stock has a fifty day moving average of $4.66 and a 200 day moving average of $5.93.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, topping 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, analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Institutional Trading of Lumen Technologies

A number of hedge funds have recently modified their holdings of LUMN. Wealth Enhancement Advisory Services LLC grew its position in Lumen Technologies by 3.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 76,905 shares of the technology company’s stock valued at $408,000 after buying an additional 2,220 shares during the period. Siemens Fonds Invest GmbH purchased a new stake in shares of Lumen Technologies during the 4th quarter worth about $62,000. Jefferies Financial Group Inc. acquired a new stake in shares of Lumen Technologies during the 4th quarter valued at about $398,000. Mackenzie Financial Corp increased its stake in shares of Lumen Technologies by 1,127.7% in the 4th quarter. Mackenzie Financial Corp now owns 790,031 shares of the technology company’s stock valued at $4,195,000 after purchasing an additional 725,681 shares in the last quarter. Finally, Forum Financial Management LP raised its holdings in Lumen Technologies by 72.5% in the 4th quarter. Forum Financial Management LP now owns 27,552 shares of the technology company’s stock worth $146,000 after purchasing an additional 11,581 shares during the period. Hedge funds and other institutional investors own 66.19% 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.