Lumen Technologies (NYSE:LUMN) Shares Down 6% - Here's What Happened
Lumen Technologies (NYSE:LUMN) shares fell 6% during mid-day trading, with the stock trading as low as $7.55. The decline occurred despite various analyst ratings, including a neutral rating from Goldman Sachs and a hold rating from Wall Street Zen. The company has a market cap of $8.07 billion and a negative P/E ratio. Institutional investors have been adjusting their stakes in the company, which operates in business and mass markets segments.
Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) shares dropped 6% during mid-day trading on Tuesday . The stock traded as low as $7.55 and last traded at $7.5750. Approximately 3,813,307 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 14,363,396 shares. The stock had previously closed at $8.06.
Get Lumen Technologies alerts:
Analyst Upgrades and Downgrades
- Palantir Breaks Out: Why PLTR Stock May Rally Into Year-End
LUMN has been the subject of a number of research analyst reports. The Goldman Sachs Group boosted their price target on Lumen Technologies from $4.10 to $4.60 and gave the stock a "neutral" rating in a report on Friday, October 3rd. Wall Street Zen raised Lumen Technologies from a "sell" rating to a "hold" rating in a research note on Sunday, November 9th. Citigroup downgraded shares of Lumen Technologies from a "buy" rating to a "neutral" rating and set a $11.00 price target on the stock. in a research note on Friday, October 31st. Raymond James Financial upped their price objective on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Lumen Technologies in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $5.97.
View Our Latest Stock Analysis on Lumen Technologies
Lumen Technologies Stock Performance
- Palantir Insider Selling: Risk Signal or Normal Activity?
The firm has a market capitalization of $8.07 billion, a P/E ratio of -6.68 and a beta of 1.45. The stock has a fifty day simple moving average of $7.55 and a two-hundred day simple moving average of $5.44. The company has a debt-to-equity ratio of 59.98, a current ratio of 2.13 and a quick ratio of 2.13.
Lumen Technologies (NYSE:LUMN - Get Free Report) last announced 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. On average, research analysts predict that Lumen Technologies, Inc. will post -0.87 EPS for the current year.
Hedge Funds Weigh In On Lumen Technologies
- Lumen: Among Top Performers Last Month, Still Has Warning Signs
A number of institutional investors have recently added to or reduced their stakes in LUMN. UMB Bank n.a. grew its holdings in shares of Lumen Technologies by 49.1% during the third quarter. UMB Bank n.a. now owns 4,105 shares of the technology company's stock worth $25,000 after purchasing an additional 1,351 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Lumen Technologies by 132.3% during the second quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company's stock valued at $26,000 after purchasing an additional 3,391 shares during the last quarter. MRP Capital Investments LLC grew its stake in Lumen Technologies by 160.0% in the 2nd quarter. MRP Capital Investments LLC now owns 6,500 shares of the technology company's stock worth $28,000 after buying an additional 4,000 shares in the last quarter. Caitong International Asset Management Co. Ltd increased 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 worth $29,000 after buying an additional 6,456 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in shares of Lumen Technologies by 24.5% during 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 in the last quarter. 66.19% of the stock is currently owned by institutional investors.
About Lumen Technologies
(Get Free Report)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.
Featured Stories
- Five stocks we like better than Lumen Technologies
- The How And Why of Investing in Oil Stocks
- Nuclear Energy Earnings: Which Names Won and Lost in Q3
- How to start investing in penny stocks
- Alphabet: Buffett's Bet on Its Next Phase of Growth
- Conference Calls and Individual Investors
- Why a 20-Second Flight Test Could Unlock Billions for Vertical
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Should You Invest $1,000 in Lumen Technologies Right Now?
Before you consider Lumen Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lumen Technologies wasn't on the list.
While Lumen Technologies currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
