Lumen Technologies Sees Unusually Large Options Volume (NYSE:LUMN)

Lumen Technologies, Inc. (NYSE:LUMN) was the target of some unusual options trading on Tuesday. Stock traders purchased 76,979 put options on the company. This represents an increase of approximately 49% compared to the average daily volume of 51,559 put options.

Insider Activity at Lumen Technologies

In related news, Director James Fowler bought 10,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average cost of $4.70 per share, with a total value of $47,000.00. Following the completion of the transaction, the director now directly owns 384,056 shares of the company’s stock, valued at $1,805,063.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.68% of the company’s stock.

Institutional Investors Weigh In On Lumen Technologies

A number of institutional investors have recently bought and sold shares of LUMN. Sawgrass Asset Management LLC grew its holdings in shares of Lumen Technologies by 68.5% during the 2nd quarter. Sawgrass Asset Management LLC now owns 22,786 shares of the technology company’s stock valued at $25,000 after acquiring an additional 9,263 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in Lumen Technologies in the second quarter valued at about $25,000. ANTIPODES PARTNERS Ltd acquired a new position in Lumen Technologies in the 2nd quarter worth about $26,000. HighPoint Advisor Group LLC purchased a new stake in shares of Lumen Technologies during the 4th quarter worth about $27,000. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in shares of Lumen Technologies during the 2nd quarter valued at about $33,000. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LUMN has been the subject of several analyst reports. JPMorgan Chase & Co. upgraded Lumen Technologies from an “underweight” rating to a “neutral” rating in a research report on Wednesday, August 7th. UBS Group boosted their price target on Lumen Technologies from $1.50 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. The Goldman Sachs Group raised Lumen Technologies from a “sell” rating to a “neutral” rating and raised their price target for the company from $1.00 to $4.00 in a report on Wednesday, August 7th. Wells Fargo & Company downgraded shares of Lumen Technologies from an “equal weight” rating to an “underweight” rating and upped their price objective for the stock from $1.75 to $4.00 in a report on Friday, August 16th. Finally, Moffett Nathanson raised their target price on shares of Lumen Technologies from $1.00 to $3.00 and gave the company a “sell” rating in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $4.02.

Lumen Technologies Stock Down 0.5 %

Shares of NYSE:LUMN opened at $7.16 on Thursday. The firm has a 50 day simple moving average of $4.87 and a 200 day simple moving average of $2.55. Lumen Technologies has a 52 week low of $0.78 and a 52 week high of $7.83. The company has a debt-to-equity ratio of 39.51, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $7.28 billion, a PE ratio of -0.65 and a beta of 1.18.

Lumen Technologies (NYSE:LUMN) last released its earnings results on Tuesday, August 6th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.07). Lumen Technologies had a negative net margin of 15.06% and a negative return on equity of 18.52%. The business had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter in the previous year, the company earned $0.10 EPS. Lumen Technologies’s revenue for the quarter was down 10.7% on a year-over-year basis. As a group, research analysts expect that Lumen Technologies will post -0.17 earnings per share for the current year.

Lumen Technologies Company 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.