Lumen Technologies, Inc. (NYSE:LUMN) Sees Significant Decrease in Short Interest

Lumen Technologies, Inc. (NYSE:LUMN) was the recipient of a significant decline in short interest in January. As of January 30th, there was short interest totaling 47,193,849 shares, a decline of 25.6% from the January 15th total of 63,424,358 shares. Based on an average trading volume of 12,848,278 shares, the days-to-cover ratio is presently 3.7 days. Approximately 4.7% of the shares of the stock are short sold. Approximately 4.7% of the shares of the stock are short sold. Based on an average trading volume of 12,848,278 shares, the days-to-cover ratio is presently 3.7 days.

Lumen Technologies Stock Up 4.8%

Shares of NYSE:LUMN opened at $8.39 on Friday. The company’s fifty day moving average is $8.12 and its two-hundred day moving average is $7.16. The company has a market cap of $8.60 billion, a P/E ratio of -4.82 and a beta of 1.51. Lumen Technologies has a 12-month low of $3.01 and a 12-month high of $11.95.

Lumen Technologies (NYSE:LUMN) last issued its earnings results on Tuesday, February 3rd. The technology company reported $0.23 EPS for the quarter, topping the consensus estimate of ($0.21) by $0.44. The business had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 14.02%.Lumen Technologies’s revenue was down 8.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.09 earnings per share. Equities research analysts anticipate that Lumen Technologies will post -0.87 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on LUMN. Wall Street Zen raised shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. Raymond James Financial reaffirmed a “market perform” rating on shares of Lumen Technologies in a report on Wednesday, February 4th. Citigroup reduced their price objective on Lumen Technologies from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, February 5th. Zacks Research raised Lumen Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lumen Technologies in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Lumen Technologies currently has a consensus rating of “Hold” and an average target price of $6.88.

Insiders Place Their Bets

In other Lumen Technologies news, CEO Kathleen E. Johnson purchased 78,685 shares of the business’s stock in a transaction on Thursday, February 5th. The stock was bought at an average cost of $6.35 per share, with a total value of $499,649.75. Following the acquisition, the chief executive officer owned 8,562,582 shares of the company’s stock, valued at $54,372,395.70. The trade was a 0.93% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.30% of the company’s stock.

Institutional Trading of Lumen Technologies

Hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC purchased a new position in Lumen Technologies during the fourth quarter valued at approximately $30,000. UMB Bank n.a. boosted its stake in shares of Lumen Technologies by 49.1% during the 3rd quarter. UMB Bank n.a. now owns 4,105 shares of the technology company’s stock valued at $25,000 after buying an additional 1,351 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of Lumen Technologies during the 4th quarter valued at $35,000. Fifth Third Bancorp grew its holdings in shares of Lumen Technologies by 24.5% during the 3rd 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 in the last quarter. Finally, Hantz Financial Services Inc. increased its stake in shares of Lumen Technologies by 3,093.3% in the fourth quarter. Hantz Financial Services Inc. now owns 6,227 shares of the technology company’s stock worth $48,000 after acquiring an additional 6,032 shares during the last quarter. 66.19% of the stock is owned by hedge funds and other institutional investors.

Lumen Technologies Company Profile

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.