Lumen Technologies (NYSE:LUMN) Raised to Hold at Wall Street Zen

Lumen Technologies (NYSE:LUMN) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

A number of other analysts also recently commented on LUMN. The Goldman Sachs Group reduced their price objective on Lumen Technologies from $8.50 to $7.25 and set a “neutral” rating for the company in a research report on Wednesday, August 5th. JPMorgan Chase & Co. upped their target price on Lumen Technologies from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Wells Fargo & Company reduced their target price on Lumen Technologies from $9.00 to $7.50 and set an “equal weight” rating for the company in a research report on Wednesday, August 5th. Zacks Research downgraded shares of Lumen Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Lumen Technologies in a report on Friday, July 17th. Nine equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $8.11.

Lumen Technologies Price Performance

Shares of Lumen Technologies stock opened at $6.63 on Friday. The company has a market cap of $6.84 billion, a PE ratio of -6.50 and a beta of 1.79. The firm has a fifty day moving average price of $7.33 and a two-hundred day moving average price of $7.81. Lumen Technologies has a fifty-two week low of $3.69 and a fifty-two week high of $11.95.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Tuesday, August 4th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.06. The company had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter in the previous year, the firm posted ($0.03) EPS. The business’s revenue for the quarter was down 9.3% compared to the same quarter last year. Analysts expect that Lumen Technologies will post -0.42 earnings per share for the current fiscal year.

Insider Activity at Lumen Technologies

In other news, CEO Kathleen E. Johnson bought 100,000 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was acquired at an average price of $6.13 per share, for a total transaction of $613,000.00. Following the transaction, the chief executive officer directly owned 100,000 shares of the company’s stock, valued at $613,000. This trade represents a ? increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.30% of the company’s stock.

Institutional Trading of Lumen Technologies

Several large investors have recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. bought a new stake in Lumen Technologies during the 4th quarter worth approximately $25,000. Ascentis Independent Advisors acquired a new position in Lumen Technologies in the first quarter worth $27,000. International Assets Investment Management LLC acquired a new position in Lumen Technologies in the fourth quarter worth $30,000. Versant Capital Management Inc grew its holdings in shares of Lumen Technologies by 90.3% during the second quarter. Versant Capital Management Inc now owns 3,920 shares of the technology company’s stock worth $30,000 after purchasing an additional 1,860 shares during the last quarter. Finally, Trust Asset Management LLC acquired a new stake in shares of Lumen Technologies in the second quarter valued at $34,000. 66.19% of the stock is owned by institutional investors.

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.