Lumen Technologies (NYSE:LUMN) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen lowered shares of Lumen Technologies (NYSE:LUMN) from a hold rating to a sell rating in a research note published on Saturday morning.

A number of other brokerages have also issued reports on LUMN. Zacks Research upgraded shares of Lumen Technologies from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 8th. Citigroup dropped their price objective on shares of Lumen Technologies from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, February 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Lumen Technologies in a research note on Thursday, January 22nd. UBS Group lifted their price target on Lumen Technologies from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Finally, The Goldman Sachs Group increased their price objective on Lumen Technologies from $5.50 to $7.25 and gave the company a “neutral” rating in a report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.25.

Lumen Technologies Stock Performance

Lumen Technologies stock opened at $7.09 on Friday. The stock has a market cap of $7.26 billion, a PE ratio of -4.07 and a beta of 1.51. The stock has a 50-day moving average of $8.01 and a two-hundred day moving average of $7.44. Lumen Technologies has a one year low of $3.01 and a one year high of $11.95.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Tuesday, February 3rd. The technology company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.44. The business had revenue of $3.04 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 14.02%.The company’s revenue was down 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.09 earnings per share. As a group, sell-side analysts predict that Lumen Technologies will post -0.87 EPS for the current fiscal year.

Insider Activity

In other Lumen Technologies news, Director Diankha Linear sold 45,000 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $7.89, for a total value of $355,050.00. Following the sale, the director owned 198,229 shares in the company, valued at approximately $1,564,026.81. This represents a 18.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Kathleen E. Johnson acquired 78,685 shares of the company’s stock in a transaction dated Thursday, February 5th. The shares were purchased at an average cost of $6.35 per share, for a total transaction of $499,649.75. Following the purchase, the chief executive officer directly owned 8,562,582 shares in the company, valued at approximately $54,372,395.70. This trade represents a 0.93% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 2.30% of the stock is currently owned by company insiders.

Institutional Trading of Lumen Technologies

A number of hedge funds have recently added to or reduced their stakes in the company. Bryce Point Capital LLC acquired a new position in shares of Lumen Technologies during the 2nd quarter valued at about $169,000. Credit Capital Investments LLC raised its stake in Lumen Technologies by 150.0% during the second quarter. Credit Capital Investments LLC now owns 150,000 shares of the technology company’s stock worth $657,000 after purchasing an additional 90,000 shares during the period. Prudential Financial Inc. boosted its holdings in Lumen Technologies by 10.5% in the 2nd quarter. Prudential Financial Inc. now owns 1,099,473 shares of the technology company’s stock valued at $4,816,000 after purchasing an additional 104,362 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Lumen Technologies by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 113,552,549 shares of the technology company’s stock valued at $694,942,000 after buying an additional 1,295,177 shares during the period. Finally, Allianz Asset Management GmbH increased its holdings in shares of Lumen Technologies by 5.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 10,056,824 shares of the technology company’s stock worth $61,548,000 after buying an additional 536,324 shares during the last quarter. 66.19% of the stock is owned by hedge funds and other 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.