Lumen Technologies (NYSE:LUMN) Trading 7.8% Higher – Still a Buy?

Shares of Lumen Technologies, Inc. (NYSE:LUMN) shot up 7.8% during trading on Tuesday . The company traded as high as $7.82 and last traded at $8.1610. 585,669 shares were traded during trading, a decline of 91% from the average session volume of 6,382,695 shares. The stock had previously closed at $7.57.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Citigroup lowered Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 price objective for the company. in a report on Friday, October 31st. Wall Street Zen upgraded shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, November 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Lumen Technologies in a research report on Wednesday, October 8th. Royal Bank Of Canada increased their target price on shares of Lumen Technologies from $4.25 to $8.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 25th. Finally, The Goldman Sachs Group lifted their price target on shares of Lumen Technologies from $4.10 to $4.60 and gave the stock a “neutral” rating in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Lumen Technologies currently has an average rating of “Hold” and a consensus price target of $6.72.

Lumen Technologies Stock Up 5.2%

The firm has a market cap of $8.17 billion, a price-to-earnings ratio of -4.82 and a beta of 1.46. The company has a 50-day moving average price of $8.61 and a 200 day moving average price of $6.43.

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

Institutional Investors Weigh In On Lumen Technologies

A number of institutional investors have recently modified their holdings of LUMN. Vanguard Group Inc. increased its position in Lumen Technologies by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 113,552,549 shares of the technology company’s stock worth $694,942,000 after purchasing an additional 1,295,177 shares during the last quarter. Front Street Capital Management Inc. increased its holdings in Lumen Technologies by 1.1% in the second quarter. Front Street Capital Management Inc. now owns 11,969,084 shares of the technology company’s stock worth $52,425,000 after buying an additional 132,131 shares during the last quarter. Man Group plc raised its position in Lumen Technologies by 3.3% during the second quarter. Man Group plc now owns 11,486,835 shares of the technology company’s stock valued at $50,312,000 after acquiring an additional 364,436 shares in the last quarter. Norges Bank acquired a new stake in Lumen Technologies in the second quarter valued at approximately $47,923,000. Finally, Invesco Ltd. raised its holdings in shares of Lumen Technologies by 6.3% during the 2nd quarter. Invesco Ltd. now owns 10,928,906 shares of the technology company’s stock valued at $47,869,000 after purchasing an additional 652,124 shares in the last quarter. Institutional investors and hedge funds 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.