12,973 Shares in Lumen Technologies, Inc. (NYSE:LUMN) Purchased by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. purchased a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 12,973 shares of the technology company’s stock, valued at approximately $69,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Concord Wealth Partners grew its holdings in Lumen Technologies by 98.8% during the third quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock worth $28,000 after purchasing an additional 1,992 shares during the period. Legacy Investment Solutions LLC bought a new stake in shares of Lumen Technologies during the third quarter worth approximately $30,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Lumen Technologies during the third quarter worth approximately $36,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Lumen Technologies during the third quarter worth approximately $46,000. Finally, R Squared Ltd bought a new stake in shares of Lumen Technologies during the fourth quarter worth approximately $48,000. Institutional investors own 66.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LUMN. TD Cowen reduced their price objective on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. The Goldman Sachs Group lifted their price target 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. Royal Bank of Canada reiterated a “sector perform” rating and issued a $4.25 price target on shares of Lumen Technologies in a research report on Monday, February 10th. Wells Fargo & Company upgraded shares of Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price target for the company in a research report on Friday. Finally, Citigroup lifted their price target on shares of Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a research report on Friday, November 29th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat, Lumen Technologies presently has a consensus rating of “Hold” and a consensus price target of $4.78.

Lumen Technologies Stock Down 0.3 %

Shares of LUMN opened at $4.68 on Friday. Lumen Technologies, Inc. has a one year low of $0.97 and a one year high of $10.33. The company has a market cap of $4.74 billion, a P/E ratio of -93.48 and a beta of 1.28. 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 firm has a 50 day simple moving average of $5.34 and a two-hundred day simple moving average of $6.18.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 EPS for the quarter, beating the consensus estimate 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%. Research analysts forecast that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal 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.