Lumen Technologies (NYSE:LUMN) Reaches New 1-Year High – Should You Buy?

Lumen Technologies, Inc. (NYSE:LUMN)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $11.95 and last traded at $11.8040, with a volume of 43250073 shares changing hands. The stock had previously closed at $10.28.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on LUMN shares. Wall Street Zen cut Lumen Technologies from a “hold” rating to a “sell” rating in a report on Saturday. Citigroup lowered Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 price target on the stock. in a research report on Friday. Raymond James Financial lifted their price target on Lumen Technologies from $4.50 to $5.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. The Goldman Sachs Group lifted their price target on Lumen Technologies from $4.10 to $4.60 and gave the stock a “neutral” rating in a research report on Friday, October 3rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Lumen Technologies in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Lumen Technologies currently has a consensus rating of “Hold” and a consensus target price of $5.98.

Lumen Technologies Stock Performance

The company has a debt-to-equity ratio of 59.98, a current ratio of 2.13 and a quick ratio of 2.13. The stock has a market capitalization of $12.11 billion, a PE ratio of -10.00 and a beta of 1.45. The stock has a 50 day moving average of $6.63 and a two-hundred day moving average of $5.01.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings results on Friday, January 27th. The technology company reported $0.49 earnings per share for the quarter. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 9.19%.The firm had revenue of $4.05 billion for the quarter. Research analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Insider Buying and Selling at Lumen Technologies

In other Lumen Technologies news, CFO Christopher Stansbury purchased 40,000 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The shares were purchased at an average cost of $4.44 per share, for a total transaction of $177,600.00. Following the completion of the purchase, the chief financial officer directly owned 535,000 shares in the company, valued at $2,375,400. This represents a 8.08% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.30% of the stock is currently owned by company insiders.

Institutional Trading of Lumen Technologies

A number of institutional investors have recently bought and sold shares of the company. State of New Jersey Common Pension Fund D lifted its position in shares of Lumen Technologies by 9.8% in the second quarter. State of New Jersey Common Pension Fund D now owns 490,480 shares of the technology company’s stock valued at $2,148,000 after acquiring an additional 43,711 shares in the last quarter. Strs Ohio purchased a new stake in shares of Lumen Technologies in the first quarter valued at $1,073,000. Woodline Partners LP purchased a new stake in shares of Lumen Technologies in the first quarter valued at $5,006,000. Voya Investment Management LLC lifted its position in shares of Lumen Technologies by 16.6% in the first quarter. Voya Investment Management LLC now owns 554,840 shares of the technology company’s stock valued at $2,175,000 after acquiring an additional 78,872 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its position in shares of Lumen Technologies by 8.5% in the second quarter. Allianz Asset Management GmbH now owns 9,520,500 shares of the technology company’s stock valued at $41,700,000 after acquiring an additional 748,185 shares in the last quarter. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

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.