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

Lumen Technologies, Inc. (NYSE:LUMN) was up 7.6% during trading on Thursday . The stock traded as high as $8.82 and last traded at $8.8350. Approximately 4,578,215 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 9,722,585 shares. The stock had previously closed at $8.21.

Analyst Ratings Changes

A number of equities analysts have issued reports on LUMN shares. Royal Bank Of Canada raised their target price on shares of Lumen Technologies from $4.25 to $8.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 25th. The Goldman Sachs Group raised 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. Zacks Research upgraded Lumen Technologies from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 8th. Citigroup cut Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 target price on the stock. in a research note on Friday, October 31st. Finally, Wall Street Zen raised shares of Lumen Technologies from a “sell” rating to a “hold” rating in a report on Sunday, November 9th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $6.72.

Lumen Technologies Price Performance

The business has a fifty day moving average price of $8.16 and a 200 day moving average price of $6.64. The company has a market capitalization of $8.68 billion, a price-to-earnings ratio of -5.13 and a beta of 1.46.

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

Institutional Investors Weigh In On Lumen Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. boosted its stake in Lumen Technologies by 15.5% during the 3rd quarter. Bessemer Group Inc. now owns 7,209 shares of the technology company’s stock valued at $43,000 after purchasing an additional 968 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Lumen Technologies by 24.5% in the third 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. Xponance Inc. boosted its stake in Lumen Technologies by 1.7% during the third quarter. Xponance Inc. now owns 75,686 shares of the technology company’s stock valued at $463,000 after buying an additional 1,273 shares in the last quarter. Arkadios Wealth Advisors grew its holdings in Lumen Technologies by 10.5% during the third quarter. Arkadios Wealth Advisors now owns 14,154 shares of the technology company’s stock worth $87,000 after acquiring an additional 1,340 shares during the period. Finally, UMB Bank n.a. raised its position in Lumen Technologies by 49.1% in the third quarter. UMB Bank n.a. now owns 4,105 shares of the technology company’s stock worth $25,000 after acquiring an additional 1,351 shares in the last quarter. Institutional investors 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.