Lumen Technologies (NYSE:LUMN) Trading Down 9.7% – Here’s What Happened

Shares of Lumen Technologies, Inc. (NYSE:LUMN) fell 9.7% during trading on Thursday . The stock traded as low as $9.00 and last traded at $8.8550. 6,044,697 shares were traded during trading, a decline of 55% from the average session volume of 13,343,511 shares. The stock had previously closed at $9.81.

Trending Headlines about Lumen Technologies

Here are the key news stories impacting Lumen Technologies this week:

• Positive Sentiment: Wells Fargo raised its price target on Lumen Technologies to $9 from $8, signaling modest upside and reinforcing investor interest in the stock. Benzinga
• Positive Sentiment: UBS also lifted its price target on Lumen, indicating expectations for stronger share price appreciation despite keeping a neutral rating. American Banking News
• Positive Sentiment: Investor focus remains on Lumen’s $13 billion in AI-driven PCF deals and growing network-as-a-service traction, which could support future revenue growth and improve sentiment. Zacks
• Neutral Sentiment: Lumen priced $1 billion of 7.500% senior notes due 2037, a financing move that should improve liquidity but also adds to interest expense and leverage. Business Wire
• Negative Sentiment: Recent coverage continues to highlight Lumen’s Q1 earnings miss, wider loss, and revenue decline, underscoring ongoing pressure on the company’s core fundamentals. Zacks
• Negative Sentiment: Zacks Research downgraded Lumen from strong-buy to hold, reflecting a more cautious stance after the stock’s recent run-up. Tickerreport

Analyst Upgrades and Downgrades

Several brokerages have commented on LUMN. Zacks Research downgraded shares of Lumen Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday. UBS Group raised their price target on shares of Lumen Technologies from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lumen Technologies in a research note on Tuesday, April 21st. Citigroup decreased their price target on shares of Lumen Technologies from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, February 5th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Lumen Technologies in a research note on Wednesday, February 4th. Nine analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $8.04.

Lumen Technologies Trading Up 0.2%

The company has a market capitalization of $8.73 billion, a P/E ratio of -4.87 and a beta of 1.65. The firm’s 50 day moving average price is $7.48 and its two-hundred day moving average price is $8.06.

Lumen Technologies (NYSE:LUMN) last released its 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 for the quarter, compared to analyst estimates of $2.83 billion. During the same period in the previous year, the company earned ($0.13) earnings per share. The company’s quarterly revenue was down 8.9% compared to the same quarter last year. Analysts anticipate that Lumen Technologies, Inc. will post -0.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Lumen Technologies

In other news, Director Diankha Linear sold 45,000 shares of the company’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $7.89, for a total value 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 represents a 18.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lumen Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. UMB Bank n.a. raised its holdings in shares of Lumen Technologies by 49.1% in the 3rd quarter. UMB Bank n.a. now owns 4,105 shares of the technology company’s stock valued at $25,000 after purchasing an additional 1,351 shares during the period. Kemnay Advisory Services Inc. bought a new stake in shares of Lumen Technologies in the 4th quarter valued at about $25,000. Ascentis Independent Advisors bought a new stake in shares of Lumen Technologies in the 1st quarter valued at about $27,000. International Assets Investment Management LLC bought a new position in Lumen Technologies during the fourth quarter worth $30,000. Finally, Fifth Third Bancorp boosted its position in Lumen Technologies by 24.5% during the third quarter. Fifth Third Bancorp now owns 5,343 shares of the technology company’s stock worth $33,000 after purchasing an additional 1,051 shares during the period. 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.