Lumen Technologies (NYSE:LUMN) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Lumen Technologies (NYSE:LUMN) from a hold rating to a sell rating in a report released on Saturday morning.

A number of other research analysts have also recently issued reports on the stock. UBS Group lifted their price objective on shares of Lumen Technologies from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Citigroup decreased their price target 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. Raymond James Financial restated a “market perform” rating on shares of Lumen Technologies in a research report on Wednesday, February 4th. The Goldman Sachs Group lifted their target price on Lumen Technologies from $5.50 to $7.25 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Finally, Zacks Research raised Lumen Technologies from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Lumen Technologies has an average rating of “Hold” and a consensus price target of $7.25.

Lumen Technologies Stock Performance

LUMN opened at $6.80 on Friday. The firm has a market cap of $6.96 billion, a P/E ratio of -3.91 and a beta of 1.56. The business’s fifty day moving average is $7.99 and its 200-day moving average is $7.48. Lumen Technologies has a 52-week low of $3.01 and a 52-week high of $11.95.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings data on Tuesday, February 3rd. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.44. The firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.04 billion. Lumen Technologies had a negative net margin of 14.02% and a negative return on equity of 158.40%. The business’s revenue for the quarter was down 8.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 earnings per share. On average, research analysts predict that Lumen Technologies will post -0.87 earnings per share for the current fiscal year.

Insider Transactions at Lumen Technologies

In other news, Director Diankha Linear sold 45,000 shares of Lumen Technologies stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $7.89, for a total transaction of $355,050.00. Following the sale, the director directly owned 198,229 shares of the company’s stock, valued at approximately $1,564,026.81. This trade represents a 18.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Kathleen E. Johnson acquired 78,685 shares of the stock in a transaction dated Thursday, February 5th. The stock was purchased at an average cost of $6.35 per share, with a total value of $499,649.75. Following the purchase, the chief executive officer directly owned 8,562,582 shares of the company’s stock, valued at $54,372,395.70. This trade represents a 0.93% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Lumen Technologies

Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. grew its stake in shares of Lumen Technologies by 324.7% in the fourth quarter. JPMorgan Chase & Co. now owns 22,211,742 shares of the technology company’s stock worth $172,585,000 after purchasing an additional 16,981,326 shares during the last quarter. Norges Bank acquired a new position in Lumen Technologies during the 4th quarter worth about $106,557,000. Price T Rowe Associates Inc. MD grew its position in shares of Lumen Technologies by 737.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,043,124 shares of the technology company’s stock valued at $62,496,000 after buying an additional 7,082,560 shares during the last quarter. Trexquant Investment LP increased its stake in shares of Lumen Technologies by 481.2% in the fourth quarter. Trexquant Investment LP now owns 5,605,410 shares of the technology company’s stock valued at $43,554,000 after buying an additional 4,640,911 shares during the period. Finally, Curi Capital LLC bought a new position in shares of Lumen Technologies during the second quarter worth about $14,144,000. 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.