Lumen Technologies (NYSE:LUMN) Stock Price Down 9.4% – Should You Sell?

Lumen Technologies, Inc. (NYSE:LUMN)’s stock price traded down 9.4% during trading on Tuesday . The company traded as low as $9.14 and last traded at $9.17. 8,906,497 shares were traded during mid-day trading, a decline of 55% from the average session volume of 19,984,359 shares. The stock had previously closed at $10.12.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. raised shares of Lumen Technologies from an “underweight” rating to a “neutral” rating in a research report on Wednesday, August 7th. The Goldman Sachs Group increased their target price on shares of Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Moffett Nathanson increased their target price on shares of Lumen Technologies from $1.00 to $3.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. Bank of America increased their target price on shares of Lumen Technologies from $1.00 to $2.00 and gave the company an “underperform” rating in a research report on Thursday, August 8th. Finally, UBS Group increased their target price on shares of Lumen Technologies from $1.50 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat, Lumen Technologies currently has a consensus rating of “Hold” and a consensus price target of $4.02.

Lumen Technologies Stock Down 8.8 %

The firm has a market capitalization of $9.37 billion, a PE ratio of -4.32 and a beta of 1.21. The firm’s 50 day moving average price is $6.66 and its two-hundred day moving average price is $3.83. The company has a quick ratio of 1.01, a current ratio of 1.20 and a debt-to-equity ratio of 53.05.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.04). The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.21 billion. Lumen Technologies had a negative return on equity of 49.74% and a negative net margin of 16.06%. The firm’s revenue was down 11.5% on a year-over-year basis. During the same period last year, the business earned ($0.09) EPS. As a group, research analysts forecast that Lumen Technologies, Inc. will post -0.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other Lumen Technologies news, Director James Fowler acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average price of $4.70 per share, with a total value of $47,000.00. Following the completion of the transaction, the director now owns 384,056 shares in the company, valued at $1,805,063.20. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.68% of the company’s stock.

Institutional Investors Weigh In On Lumen Technologies

Several hedge funds and other institutional investors have recently modified their holdings of LUMN. Stephens Inc. AR lifted its holdings in shares of Lumen Technologies by 7.7% during the third quarter. Stephens Inc. AR now owns 27,070 shares of the technology company’s stock valued at $192,000 after acquiring an additional 1,935 shares during the period. Concord Wealth Partners grew its position in shares of Lumen Technologies by 98.8% during the 3rd quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock worth $28,000 after buying an additional 1,992 shares during the period. US Bancorp DE grew its position in shares of Lumen Technologies by 18.6% in the 3rd quarter. US Bancorp DE now owns 15,012 shares of the technology company’s stock valued at $107,000 after purchasing an additional 2,350 shares during the period. Xponance Inc. grew its position in shares of Lumen Technologies by 4.0% in the 2nd quarter. Xponance Inc. now owns 64,444 shares of the technology company’s stock valued at $71,000 after purchasing an additional 2,487 shares during the period. Finally, Arkadios Wealth Advisors grew its position in shares of Lumen Technologies by 23.6% in the 3rd quarter. Arkadios Wealth Advisors now owns 13,367 shares of the technology company’s stock valued at $95,000 after purchasing an additional 2,554 shares during the period. Institutional investors and hedge funds own 66.19% of the company’s stock.

About Lumen Technologies

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.