Lumen Technologies (NYSE:LUMN) Shares Gap Up to $1.80

Posted by Defense World Staff on Jun 12th, 2023

Lumen Technologies, Inc. (NYSE:LUMN – Get Rating)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $1.80, but opened at $1.87. Lumen Technologies shares last traded at $1.84, with a volume of 6,409,674 shares traded.

Analyst Upgrades and Downgrades

LUMN has been the topic of a number of research reports. Morgan Stanley decreased their price target on Lumen Technologies from $6.00 to $2.50 and set an “underweight” rating on the stock in a research note on Monday, March 13th. Bank of America decreased their price target on Lumen Technologies from $4.00 to $2.00 in a research note on Thursday, May 4th. Finally, Raymond James upgraded Lumen Technologies from an “underperform” rating to a “market perform” rating in a research note on Tuesday, June 6th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $5.11.

Lumen Technologies Stock Up 3.1 %

The stock has a market cap of $1.86 billion, a PE ratio of -1.12, a price-to-earnings-growth ratio of 0.09 and a beta of 1.02. The firm has a fifty day moving average of $2.24 and a 200 day moving average of $3.69. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.80.

Lumen Technologies (NYSE:LUMN – Get Rating) last posted its earnings results on Tuesday, May 2nd. The technology company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.02). The business had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.73 billion. Lumen Technologies had a negative net margin of 9.89% and a positive return on equity of 8.87%. The business’s quarterly revenue was down 20.1% compared to the same quarter last year. During the same period last year, the company earned $0.63 EPS. On average, equities research analysts anticipate that Lumen Technologies, Inc. will post 0.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Lumen Technologies

Several hedge funds have recently made changes to their positions in LUMN. Parkside Financial Bank & Trust grew its holdings in shares of Lumen Technologies by 2,331.1% during the first quarter. Parkside Financial Bank & Trust now owns 10,551 shares of the technology company’s stock worth $28,000 after purchasing an additional 10,117 shares during the last quarter. Lindbrook Capital LLC grew its holdings in shares of Lumen Technologies by 356.7% during the first quarter. Lindbrook Capital LLC now owns 10,879 shares of the technology company’s stock worth $29,000 after buying an additional 8,497 shares during the last quarter. Avidian Wealth Solutions LLC purchased a new position in shares of Lumen Technologies during the first quarter worth about $29,000. PDS Planning Inc purchased a new position in shares of Lumen Technologies during the first quarter worth about $30,000. Finally, Independent Advisor Alliance purchased a new position in shares of Lumen Technologies during the first quarter worth about $30,000. Hedge funds and other institutional investors own 76.03% of the company’s stock.

Lumen Technologies Company Profile

(Get Rating)

Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services under the Lumen, Quantum Fiber, and CenturyLink brands to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets.