Hsbc Holdings PLC Trims Holdings in Lumen Technologies, Inc. $LUMN

Hsbc Holdings PLC lowered its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 4.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,766,020 shares of the technology company’s stock after selling 374,007 shares during the period. Hsbc Holdings PLC owned 0.85% of Lumen Technologies worth $60,448,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of LUMN. Kemnay Advisory Services Inc. acquired a new stake in shares of Lumen Technologies during the fourth quarter worth about $25,000. Ascentis Independent Advisors acquired a new stake in Lumen Technologies during the 1st quarter worth approximately $27,000. International Assets Investment Management LLC purchased a new position in shares of Lumen Technologies in the 4th quarter valued at approximately $30,000. Los Angeles Capital Management LLC acquired a new position in shares of Lumen Technologies in the fourth quarter valued at approximately $35,000. Finally, Hantz Financial Services Inc. increased its holdings in shares of Lumen Technologies by 3,093.3% in the fourth quarter. Hantz Financial Services Inc. now owns 6,227 shares of the technology company’s stock valued at $48,000 after purchasing an additional 6,032 shares during the period. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Lumen Technologies Price Performance

Shares of LUMN stock opened at $6.25 on Monday. The business’s fifty day moving average price is $8.42 and its 200 day moving average price is $8.00. The firm has a market capitalization of $6.44 billion, a PE ratio of -3.59 and a beta of 1.75. Lumen Technologies, Inc. has a 1-year low of $3.37 and a 1-year high of $11.95.

Lumen Technologies (NYSE:LUMN) last issued its earnings results on Tuesday, May 5th. The technology company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.34). The business had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.83 billion. During the same quarter in the prior year, the firm earned ($0.13) EPS. The business’s quarterly revenue was down 8.9% on a year-over-year basis. Equities research analysts expect that Lumen Technologies, Inc. will post -0.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

LUMN has been the subject of several recent research reports. UBS Group increased their price target on Lumen Technologies from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. upped their price objective on shares of Lumen Technologies from $6.00 to $7.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Wells Fargo & Company raised their target price on shares of Lumen Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. TD Cowen boosted their price target on shares of Lumen Technologies from $8.00 to $9.00 and gave the stock a “hold” rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen upgraded shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, May 3rd. Nine research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Lumen Technologies has a consensus rating of “Reduce” and a consensus target price of $7.91.

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.