AXQ Capital LP Invests $84,000 in Lumen Technologies, Inc. (NYSE:LUMN)

AXQ Capital LP bought a new position in Lumen Technologies, Inc. (NYSE:LUMN) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 15,820 shares of the technology company’s stock, valued at approximately $84,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new position in shares of Lumen Technologies during the 3rd quarter worth about $30,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Lumen Technologies in the third quarter valued at approximately $36,000. Smartleaf Asset Management LLC grew its stake in shares of Lumen Technologies by 173.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company’s stock worth $36,000 after acquiring an additional 4,277 shares during the last quarter. R Squared Ltd bought a new position in Lumen Technologies during the fourth quarter worth $48,000. Finally, HB Wealth Management LLC acquired a new position in Lumen Technologies during the 4th quarter valued at $59,000. Institutional investors and hedge funds own 66.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LUMN. Citigroup upgraded shares of Lumen Technologies from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $8.00 to $6.50 in a report on Wednesday, February 26th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $4.25 price objective 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 objective on the stock in a research report 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. Based on data from MarketBeat, Lumen Technologies presently has an average rating of “Hold” and a consensus price target of $4.59.

Lumen Technologies Stock Performance

Shares of NYSE:LUMN opened at $4.86 on Tuesday. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20. The business’s fifty day moving average price is $5.00 and its two-hundred day moving average price is $6.08. Lumen Technologies, Inc. has a fifty-two week low of $0.97 and a fifty-two week high of $10.33. The stock has a market capitalization of $4.92 billion, a price-to-earnings ratio of -97.10 and a beta of 1.28.

Lumen Technologies (NYSE:LUMN) last announced its earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts predict that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Lumen Technologies Profile

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.