Lumen Technologies, Inc. (NYSE:LUMN – Get Rating) shot up 4.5% during trading on Friday . The company traded as high as $1.99 and last traded at $1.97. 3,344,611 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 29,383,873 shares. The stock had previously closed at $1.88.
Analysts Set New Price Targets
A number of research firms recently commented on LUMN. Citigroup lowered Lumen Technologies from a “neutral” rating to a “sell” rating and lowered their price target for the company from $6.25 to $3.50 in a research report on Wednesday, February 8th. Morgan Stanley lowered their price target on Lumen Technologies from $6.00 to $2.50 and set an “underweight” rating for the company in a research report on Monday, March 13th. TheStreet downgraded Lumen Technologies from a “c” rating to a “d” rating in a research note on Tuesday, February 7th. The Goldman Sachs Group reduced their price objective on Lumen Technologies from $6.00 to $4.00 and set a “neutral” rating for the company in a research note on Wednesday, February 8th. Finally, Bank of America reduced their price objective on Lumen Technologies from $4.00 to $2.00 in a research note on Thursday, May 4th. Three investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.11.
Lumen Technologies Stock Up 6.1 %
The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a 50 day moving average price of $2.37 and a two-hundred day moving average price of $4.04.
Institutional Trading of Lumen Technologies
A number of institutional investors have recently added to or reduced their stakes in LUMN. Parkside Financial Bank & Trust raised its holdings in shares of Lumen Technologies by 2,331.1% in the 1st quarter. Parkside Financial Bank & Trust now owns 10,551 shares of the technology company’s stock valued at $28,000 after acquiring an additional 10,117 shares in the last quarter. Lindbrook Capital LLC grew its position in Lumen Technologies by 356.7% during the 1st quarter. Lindbrook Capital LLC now owns 10,879 shares of the technology company’s stock worth $29,000 after acquiring an additional 8,497 shares during the last quarter. Avidian Wealth Solutions LLC bought a new position in Lumen Technologies during the 1st quarter worth approximately $29,000. PDS Planning Inc bought a new position in Lumen Technologies during the 1st quarter worth approximately $30,000. Finally, Independent Advisor Alliance bought a new position in Lumen Technologies during the 1st quarter worth approximately $30,000. Hedge funds and other institutional investors own 76.03% of the company’s stock.
Lumen Technologies Company Profile
Lumen Technologies, Inc is an investment holding company, which engages in the provision of integrated communications to residential and business customers. It operates through the following segments: Business and Mass Markets. Business segment provides products and services under four sales channels to enterprise and commercial customers.
- Get a free copy of the StockNews.com research report on Lumen Technologies (LUMN)
- Big Lots Becomes A Stomach Churning Value Play
- The Melt-Up In Marvell Is On; But Don’t Chase It Higher
- Is Apple a Growth Stock or a Value Stock?
- Costco’s Earnings Call Reassure Economists, Recession Cancelled
- Hot Inflation, What It Means For The Summer Rally
Receive News & Ratings for Lumen Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lumen Technologies and related companies with MarketBeat.com's FREE daily email newsletter.