Lumen Technologies (NYSE:LUMN) Shares Up 9.5%

Shares of Lumen Technologies, Inc. (NYSE:LUMN) traded up 9.5% during trading on Thursday . The stock traded as high as $1.67 and last traded at $1.67. 11,624,276 shares traded hands during trading, a decline of 1% from the average session volume of 11,783,319 shares. The stock had previously closed at $1.52.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group assumed coverage on shares of Lumen Technologies in a report on Monday, July 1st. They issued a “sell” rating and a $1.00 price target on the stock.

Lumen Technologies Stock Up 7.9 %

The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 36.89. The stock has a market cap of $1.66 billion, a P/E ratio of -0.15 and a beta of 1.15. The firm has a 50-day simple moving average of $1.21 and a two-hundred day simple moving average of $1.38.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings results on Tuesday, April 30th. The technology company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.01). The business had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.38 billion. Lumen Technologies had a negative net margin of 76.21% and a positive return on equity of 4.06%. The company’s revenue was down 12.0% on a year-over-year basis. During the same quarter last year, the company posted $0.10 earnings per share. Equities research analysts expect that Lumen Technologies, Inc. will post -0.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Kathleen E. Johnson purchased 750,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was acquired at an average cost of $1.28 per share, for a total transaction of $960,000.00. Following the completion of the purchase, the chief executive officer now owns 7,756,290 shares in the company, valued at approximately $9,928,051.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.68% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Strategies Wealth Advisors LLC bought a new position in Lumen Technologies in the 4th quarter valued at about $26,000. Brighton Jones LLC acquired a new stake in shares of Lumen Technologies during the 4th quarter worth approximately $27,000. HighPoint Advisor Group LLC bought a new position in Lumen Technologies in the fourth quarter valued at approximately $27,000. Fidelis Capital Partners LLC raised its position in Lumen Technologies by 94.6% during the first quarter. Fidelis Capital Partners LLC now owns 22,142 shares of the technology company’s stock valued at $35,000 after purchasing an additional 10,764 shares in the last quarter. Finally, Guardian Capital LP lifted its stake in Lumen Technologies by 53.5% during the fourth quarter. Guardian Capital LP now owns 22,145 shares of the technology company’s stock worth $41,000 after purchasing an additional 7,717 shares during the last quarter. Institutional investors and hedge funds own 66.19% of the company’s stock.

About Lumen Technologies

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.