Lumen Technologies (NYSE:LUMN) Trading Up 7.6% – What’s Next?

Lumen Technologies, Inc. (NYSE:LUMN)’s stock price shot up 7.6% during trading on Thursday . The company traded as high as $8.82 and last traded at $8.8350. 4,578,215 shares were traded during trading, a decline of 53% from the average session volume of 9,722,585 shares. The stock had previously closed at $8.21.

Wall Street Analysts Forecast Growth

LUMN has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Lumen Technologies in a research report on Wednesday, October 8th. Royal Bank Of Canada raised their target price on Lumen Technologies from $4.25 to $8.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 25th. Wall Street Zen raised Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. Zacks Research raised Lumen Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 8th. Finally, Citigroup lowered shares of Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 target price on the stock. in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $6.72.

Lumen Technologies Trading Up 7.4%

The stock has a market cap of $9.04 billion, a price-to-earnings ratio of -5.34 and a beta of 1.46. The firm has a fifty day simple moving average of $8.24 and a 200-day simple moving average of $6.60.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Thursday, October 30th. The technology company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.11. The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.04 billion. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 13.02%.The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.13) earnings per share. On average, equities analysts predict that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. UMB Bank n.a. raised its position in shares of Lumen Technologies by 49.1% in the 3rd quarter. UMB Bank n.a. now owns 4,105 shares of the technology company’s stock valued at $25,000 after acquiring an additional 1,351 shares during the period. Farther Finance Advisors LLC raised its holdings in Lumen Technologies by 132.3% in the second quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company’s stock worth $26,000 after purchasing an additional 3,391 shares during the period. MRP Capital Investments LLC boosted its position in shares of Lumen Technologies by 160.0% during the second quarter. MRP Capital Investments LLC now owns 6,500 shares of the technology company’s stock worth $28,000 after purchasing an additional 4,000 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of Lumen Technologies by 3,527.9% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 6,639 shares of the technology company’s stock valued at $29,000 after buying an additional 6,456 shares during the period. Finally, Fifth Third Bancorp grew its holdings in shares of Lumen Technologies by 24.5% in the 3rd quarter. Fifth Third Bancorp now owns 5,343 shares of the technology company’s stock valued at $33,000 after buying an additional 1,051 shares during the period. Institutional investors and hedge funds own 66.19% of the company’s stock.

Lumen Technologies Company Profile

Lumen Technologies is a multinational technology company specializing in integrated network, edge cloud, security and collaboration services for enterprise and public sector clients. The company’s core offerings include high-capacity fiber and IP-based connectivity, managed edge computing solutions designed to accelerate applications and data processing closer to end users, and cybersecurity services ranging from DDoS protection to unified threat management. Through its unified portfolio, Lumen enables organizations to support digital transformation initiatives, modernize infrastructure and enhance operational resilience.

Leveraging one of the largest fiber footprints in North America, as well as infrastructure in Latin America and parts of Europe, Lumen connects customers across more than 60 countries.