Lumen Technologies (NYSE:LUMN) Given New $4.50 Price Target at The Goldman Sachs Group

Lumen Technologies (NYSE:LUMNFree Report) had its price objective increased by The Goldman Sachs Group from $4.00 to $4.50 in a research note published on Friday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the technology company’s stock.

Several other equities research analysts have also recently issued reports on LUMN. Bank of America boosted their price objective on shares of Lumen Technologies from $1.00 to $2.00 and gave the company an underperform rating in a research report on Thursday, August 8th. TD Cowen increased their price objective on Lumen Technologies from $2.50 to $7.00 and gave the stock a hold rating in a research note on Wednesday, August 7th. Citigroup raised Lumen Technologies from a sell rating to a neutral rating and lifted their target price for the company from $1.25 to $3.15 in a research report on Tuesday, August 6th. Wells Fargo & Company downgraded Lumen Technologies from an equal weight rating to an underweight rating and increased their price target for the stock from $1.75 to $4.00 in a research report on Friday, August 16th. Finally, Moffett Nathanson lifted their price objective on Lumen Technologies from $1.00 to $3.00 and gave the company a sell rating in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, Lumen Technologies has a consensus rating of Hold and a consensus price target of $4.09.

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Lumen Technologies Trading Down 8.0 %

Shares of NYSE LUMN opened at $6.24 on Friday. Lumen Technologies has a fifty-two week low of $0.78 and a fifty-two week high of $7.83. The company has a debt-to-equity ratio of 39.51, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $6.33 billion, a price-to-earnings ratio of -0.57 and a beta of 1.19. The business’s 50 day moving average price is $5.71 and its 200-day moving average price is $2.85.

Lumen Technologies (NYSE:LUMNGet Free Report) last released its earnings results on Tuesday, August 6th. The technology company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.07). The business had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.25 billion. Lumen Technologies had a negative return on equity of 18.52% and a negative net margin of 15.06%. The business’s revenue for the quarter was down 10.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 EPS. On average, sell-side analysts expect that Lumen Technologies will post -0.17 earnings per share for the current year.

Insider Transactions at Lumen Technologies

In related news, Director James Fowler acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of $4.70 per share, with a total value of $47,000.00. Following the completion of the transaction, the director now directly owns 384,056 shares in the company, valued at $1,805,063.20. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.68% of the company’s stock.

Institutional Investors Weigh In On Lumen Technologies

Several institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC increased its position in shares of Lumen Technologies by 1,901.8% during the third quarter. GAMMA Investing LLC now owns 6,846 shares of the technology company’s stock worth $49,000 after purchasing an additional 6,504 shares in the last quarter. HighPoint Advisor Group LLC acquired a new position in Lumen Technologies during the 4th quarter valued at about $27,000. Sanctuary Advisors LLC purchased a new stake in Lumen Technologies in the second quarter valued at about $25,000. Fidelis Capital Partners LLC boosted its holdings in Lumen Technologies by 94.6% in the first quarter. Fidelis Capital Partners LLC now owns 22,142 shares of the technology company’s stock worth $35,000 after acquiring an additional 10,764 shares in the last quarter. Finally, Sawgrass Asset Management LLC grew its stake in shares of Lumen Technologies by 68.5% during the second quarter. Sawgrass Asset Management LLC now owns 22,786 shares of the technology company’s stock worth $25,000 after acquiring an additional 9,263 shares during the last quarter. 66.19% of the stock is currently owned by institutional investors and hedge funds.

About Lumen Technologies

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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.

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