Investors Purchase High Volume of Lumen Technologies Call Options (NYSE:LUMN)

Lumen Technologies, Inc. (NYSE:LUMN) was the recipient of some unusual options trading activity on Thursday. Stock investors acquired 65,705 call options on the stock. This is an increase of approximately 199% compared to the typical daily volume of 22,000 call options.

Analyst Upgrades and Downgrades

LUMN has been the topic of several recent research reports. Wells Fargo & Company raised their target price on Lumen Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. JPMorgan Chase & Co. raised their target price on Lumen Technologies from $6.00 to $7.00 and gave the company a “neutral” rating in a report on Monday. The Goldman Sachs Group lifted their price target on shares of Lumen Technologies from $5.50 to $7.25 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Raymond James Financial reissued a “market perform” rating on shares of Lumen Technologies in a research report on Wednesday, February 4th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Lumen Technologies in a research report on Tuesday, April 21st. Ten equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $7.91.

Lumen Technologies Stock Performance

Shares of Lumen Technologies stock traded up $1.22 during trading on Thursday, reaching $10.62. The company’s stock had a trading volume of 21,448,454 shares, compared to its average volume of 13,625,489. The business’s fifty day moving average price is $7.62 and its 200-day moving average price is $8.10. The firm has a market cap of $10.94 billion, a price-to-earnings ratio of -6.09 and a beta of 1.65. Lumen Technologies has a one year low of $3.37 and a one year high of $11.95.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.34). The firm had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.83 billion. The business’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.13) EPS. Sell-side analysts anticipate that Lumen Technologies will post -0.39 EPS for the current year.

Insiders Place Their Bets

In other Lumen Technologies news, Director Diankha Linear sold 45,000 shares of the firm’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $7.89, for a total transaction of $355,050.00. Following the transaction, the director directly owned 198,229 shares in the company, valued at $1,564,026.81. This trade represents a 18.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lumen Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of LUMN. UMB Bank n.a. increased its position in 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 acquiring an additional 1,351 shares during the period. Kemnay Advisory Services Inc. bought a new position in Lumen Technologies during the fourth quarter worth $25,000. Ascentis Independent Advisors bought a new position in Lumen Technologies during the first quarter valued at about $27,000. International Assets Investment Management LLC bought a new position in Lumen Technologies during the fourth quarter valued at about $30,000. Finally, Fifth Third Bancorp increased its stake in Lumen Technologies by 24.5% during the third quarter. Fifth Third Bancorp now owns 5,343 shares of the technology company’s stock valued at $33,000 after acquiring an additional 1,051 shares during the period. Institutional investors own 66.19% of the company’s stock.

About Lumen Technologies

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.