Lumen Technologies (NYSE:LUMN) Stock Price Down 4.8% – What’s Next?

Shares of Lumen Technologies, Inc. (NYSE:LUMN) dropped 4.8% during trading on Monday . The company traded as low as $7.81 and last traded at $7.7950. Approximately 7,496,240 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 14,337,119 shares. The stock had previously closed at $8.19.

Analyst Upgrades and Downgrades

LUMN has been the topic of several recent research reports. The Goldman Sachs Group lifted their price target on shares of Lumen Technologies from $4.10 to $4.60 and gave the company a “neutral” rating in a research note on Friday, October 3rd. Royal Bank Of Canada lifted their target price on Lumen Technologies from $4.25 to $8.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 25th. Wall Street Zen raised Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, November 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lumen Technologies in a research report on Wednesday, October 8th. Finally, Citigroup cut Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 price objective on the stock. in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $6.72.

Lumen Technologies Stock Performance

The stock has a market capitalization of $7.96 billion, a P/E ratio of -4.71 and a beta of 1.42. The stock’s 50-day simple moving average is $8.54 and its 200 day simple moving average is $6.14. The company has a debt-to-equity ratio of 59.98, a current ratio of 2.21 and a quick ratio of 2.21.

Lumen Technologies (NYSE:LUMN) last announced its earnings results on Friday, January 27th. The technology company reported $0.49 EPS for the quarter. The business had revenue of $4.05 billion during the quarter. Lumen Technologies had a negative net margin of 13.02% and a negative return on equity of 158.40%. Research analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. UMB Bank n.a. boosted its position in shares of Lumen Technologies by 49.1% in the third quarter. UMB Bank n.a. now owns 4,105 shares of the technology company’s stock valued at $25,000 after acquiring an additional 1,351 shares during the period. Farther Finance Advisors LLC raised its stake in Lumen Technologies by 132.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company’s stock worth $26,000 after purchasing an additional 3,391 shares in the last quarter. MRP Capital Investments LLC boosted its holdings in Lumen Technologies by 160.0% in the 2nd quarter. MRP Capital Investments LLC now owns 6,500 shares of the technology company’s stock valued at $28,000 after purchasing an additional 4,000 shares during the period. Caitong International Asset Management Co. Ltd raised its position in shares of Lumen Technologies by 3,527.9% in the second quarter. Caitong International Asset Management Co. Ltd now owns 6,639 shares of the technology company’s stock valued at $29,000 after buying an additional 6,456 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake 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. 66.19% of the stock is owned by institutional investors and hedge funds.

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.