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

Lumen Technologies, Inc. (NYSE:LUMN) traded down 9.4% on Tuesday . The company traded as low as $9.14 and last traded at $9.17. 8,906,497 shares were traded during 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

LUMN has been the topic of several research analyst reports. JPMorgan Chase & Co. upgraded Lumen Technologies from an “underweight” rating to a “neutral” rating in a research note on Wednesday, August 7th. Bank of America boosted their price target on Lumen Technologies from $1.00 to $2.00 and gave the company an “underperform” rating in a research report on Thursday, August 8th. TD Cowen reduced their target price on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. Moffett Nathanson raised their target price on Lumen Technologies from $1.00 to $3.00 and gave the company a “sell” rating in a research note on Wednesday, August 7th. Finally, UBS Group raised their target price on shares of Lumen Technologies from $1.50 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, Lumen Technologies has an average rating of “Hold” and an average target price of $4.02.

Lumen Technologies Stock Down 8.8 %

The stock has a market cap of $9.37 billion, a price-to-earnings ratio of -4.32 and a beta of 1.21. The company has a debt-to-equity ratio of 53.05, a current ratio of 1.20 and a quick ratio of 1.01. The firm has a 50 day simple moving average of $6.66 and a two-hundred day simple moving average of $3.83.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings results on Tuesday, November 5th. The technology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.04). The firm had revenue of $3.22 billion for 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 business’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.09) earnings per share. As a group, sell-side analysts expect that Lumen Technologies, Inc. will post -0.38 EPS for the current year.

Insider Transactions at Lumen Technologies

In other Lumen Technologies news, Director James Fowler purchased 10,000 shares of Lumen Technologies stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of $4.70 per share, for a total transaction of $47,000.00. Following the acquisition, the director now directly owns 384,056 shares in the company, valued at approximately $1,805,063.20. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate 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. Millennium Management LLC increased its holdings in Lumen Technologies by 129.8% during the second quarter. Millennium Management LLC now owns 7,854,906 shares of the technology company’s stock valued at $8,640,000 after buying an additional 4,436,710 shares during the period. Front Street Capital Management Inc. increased its holdings in Lumen Technologies by 30.1% during the second quarter. Front Street Capital Management Inc. now owns 11,661,112 shares of the technology company’s stock valued at $12,827,000 after buying an additional 2,697,423 shares during the period. Victory Capital Management Inc. increased its holdings in Lumen Technologies by 1,081.0% during the third quarter. Victory Capital Management Inc. now owns 2,368,911 shares of the technology company’s stock valued at $16,819,000 after buying an additional 2,168,325 shares during the period. Vanguard Group Inc. increased its holdings in Lumen Technologies by 1.7% during the first quarter. Vanguard Group Inc. now owns 120,303,220 shares of the technology company’s stock valued at $187,673,000 after buying an additional 1,975,400 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new position in Lumen Technologies during the third quarter valued at approximately $10,062,000. Hedge funds and other institutional investors own 66.19% of the company’s stock.

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.