Lumen Technologies (NYSE:LUMN) Shares Up 6.1% – Should You Buy?

Lumen Technologies, Inc. (NYSE:LUMN) shot up 6.1% during trading on Tuesday . The company traded as high as $9.08 and last traded at $9.1560. 1,755,548 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 10,997,148 shares. The stock had previously closed at $8.63.

Analyst Ratings Changes

Several analysts have commented on LUMN shares. Royal Bank Of Canada boosted their target price on shares of Lumen Technologies from $4.25 to $8.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lumen Technologies in a research report on Thursday. The Goldman Sachs Group boosted their price target on shares of Lumen Technologies from $4.10 to $4.60 and gave the company a “neutral” rating in a report on Friday, October 3rd. Zacks Research raised shares of Lumen Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 8th. Finally, Wall Street Zen raised shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Lumen Technologies currently has a consensus rating of “Hold” and a consensus target price of $6.72.

Lumen Technologies Stock Up 8.1%

The firm has a 50 day moving average of $8.13 and a 200 day moving average of $6.84. The firm has a market cap of $9.56 billion, a price-to-earnings ratio of -5.64 and a beta of 1.46.

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

Hedge Funds Weigh In On Lumen Technologies

Institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in Lumen Technologies in the second quarter worth $47,923,000. Curi Capital LLC bought a new position in shares of Lumen Technologies during the second quarter valued at approximately $14,144,000. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Lumen Technologies in the 3rd quarter worth about $18,439,000. Penn Capital Management Company LLC bought a new stake in Lumen Technologies during the 3rd quarter valued at approximately $16,837,000. Finally, AIGH Capital Management LLC bought a new position in Lumen Technologies in the third quarter worth $15,606,000. 66.19% of the stock is currently owned by institutional investors.

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.