Lumen Technologies (NYSE:LUMN) Stock Price Up 9.3% – Time to Buy?

Lumen Technologies, Inc. (NYSE:LUMN) shares traded up 9.3% during trading on Thursday . The company traded as high as $10.20 and last traded at $10.2750. 3,268,548 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 13,423,628 shares. The stock had previously closed at $9.40.

Analyst Ratings Changes

A number of analysts have recently commented on the company. UBS Group boosted their price objective on Lumen Technologies from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Citigroup dropped their price objective on Lumen Technologies from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday, February 5th. TD Cowen boosted their price objective on Lumen Technologies from $8.00 to $9.00 and gave the stock a “hold” rating in a research note on Wednesday, May 6th. Wall Street Zen raised Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, May 3rd. Finally, The Goldman Sachs Group boosted their price objective on Lumen Technologies from $5.50 to $7.25 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. Ten analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $7.91.

Lumen Technologies Price Performance

The firm has a market cap of $10.86 billion, a PE ratio of -6.08 and a beta of 1.65. The business has a fifty day moving average price of $7.62 and a two-hundred day moving average price of $8.10.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.34). The company had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.83 billion. The company’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.13) earnings per share. As a group, sell-side analysts forecast that Lumen Technologies, Inc. will post -0.39 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Diankha Linear sold 45,000 shares of the company’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $7.89, for a total transaction of $355,050.00. Following the transaction, the director directly owned 198,229 shares of the company’s stock, valued at approximately $1,564,026.81. The trade was a 18.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Bessemer Group Inc. grew its stake in Lumen Technologies by 15.5% in the third quarter. Bessemer Group Inc. now owns 7,209 shares of the technology company’s stock valued at $43,000 after purchasing an additional 968 shares in the last quarter. Fifth Third Bancorp grew its stake in 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 purchasing an additional 1,051 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in Lumen Technologies by 2.0% in the fourth quarter. Crossmark Global Holdings Inc. now owns 61,599 shares of the technology company’s stock valued at $479,000 after purchasing an additional 1,230 shares in the last quarter. Xponance Inc. grew its stake in Lumen Technologies by 1.7% in the third quarter. Xponance Inc. now owns 75,686 shares of the technology company’s stock valued at $463,000 after purchasing an additional 1,273 shares in the last quarter. Finally, Arkadios Wealth Advisors grew its stake in Lumen Technologies by 10.5% in the third quarter. Arkadios Wealth Advisors now owns 14,154 shares of the technology company’s stock valued at $87,000 after purchasing an additional 1,340 shares in the last quarter. Hedge funds and other institutional investors 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.