Lumen Technologies (NYSE:LUMN) Trading Up 4.6% – Should You Buy?

Shares of Lumen Technologies, Inc. (NYSE:LUMN) shot up 4.6% on Monday . The company traded as high as $3.51 and last traded at $3.51. 1,650,331 shares were traded during trading, a decline of 91% from the average session volume of 19,162,215 shares. The stock had previously closed at $3.35.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on LUMN shares. Citigroup upgraded shares of Lumen Technologies from a “neutral” rating to a “buy” rating and lowered their target price for the company from $8.00 to $6.50 in a research note on Wednesday, February 26th. Royal Bank of Canada reiterated a “sector perform” rating and set a $4.25 target price on shares of Lumen Technologies in a research report on Monday, February 10th. Finally, Wells Fargo & Company upgraded Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price target for the company in a research note on Friday, February 21st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Lumen Technologies currently has a consensus rating of “Hold” and an average target price of $4.59.

Lumen Technologies Trading Up 5.5 %

The firm has a market capitalization of $3.62 billion, a PE ratio of -70.69 and a beta of 1.29. The stock’s 50-day moving average price is $4.17 and its 200 day moving average price is $5.56. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20.

Lumen Technologies (NYSE:LUMN) last posted its earnings results on Tuesday, February 4th. The technology company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.14. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. On average, sell-side analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Lumen Technologies

Several institutional investors have recently added to or reduced their stakes in the business. Northern Trust Corp grew its position in Lumen Technologies by 8.6% during the 4th quarter. Northern Trust Corp now owns 12,354,499 shares of the technology company’s stock worth $65,602,000 after purchasing an additional 982,206 shares during the last quarter. Norges Bank acquired a new position in Lumen Technologies in the 4th quarter worth approximately $63,638,000. Renaissance Technologies LLC raised its holdings in shares of Lumen Technologies by 76.3% during the fourth quarter. Renaissance Technologies LLC now owns 11,664,009 shares of the technology company’s stock worth $61,936,000 after purchasing an additional 5,049,709 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Lumen Technologies by 368.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,812,495 shares of the technology company’s stock valued at $52,111,000 after purchasing an additional 7,717,596 shares during the period. Finally, Hennessy Advisors Inc. purchased a new stake in Lumen Technologies in the fourth quarter valued at $45,089,000. Institutional investors and hedge funds own 66.19% of the company’s stock.

About Lumen Technologies

Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets. It offers dark fiber, edge cloud services, internet protocol, managed security, software-defined wide area networks, secure access service edge, unified communications and collaboration, and optical wavelengths services; ethernet and VPN data networks services; and legacy services to manage cash flow, including time division multiplexing voice, private line, and other legacy services, as well as sells communication equipment, and IT solutions.