Lumen Technologies (NYSE:LUMN) Upgraded at Citigroup

Citigroup upgraded shares of Lumen Technologies (NYSE:LUMN) from a neutral rating to a buy rating in a research note published on Wednesday, MarketBeat reports. They currently have $6.50 price objective on the technology company’s stock, down from their prior price objective of $8.00.

Several other equities research analysts have also recently commented on the stock. TD Cowen cut their price target on shares of Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Wednesday, November 6th. The Goldman Sachs Group boosted their price target on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Royal Bank of Canada reissued a “sector perform” rating and set a $4.25 price target on shares of Lumen Technologies in a research report on Monday, February 10th. Finally, Wells Fargo & Company raised shares of Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price target on the stock in a research report on Friday, February 21st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $4.59.

Lumen Technologies Trading Up 4.5 %

LUMN opened at $4.72 on Wednesday. The stock has a market capitalization of $4.78 billion, a P/E ratio of -94.28 and a beta of 1.28. Lumen Technologies has a 12 month low of $0.97 and a 12 month high of $10.33. The firm’s fifty day simple moving average is $5.19 and its 200 day simple moving average is $6.15. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70.

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

Institutional Investors Weigh In On Lumen Technologies

A number of institutional investors and hedge funds have recently modified their holdings of LUMN. Concord Wealth Partners raised its holdings in shares of Lumen Technologies by 98.8% in the 3rd quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock valued at $28,000 after purchasing an additional 1,992 shares during the period. Legacy Investment Solutions LLC acquired a new position in Lumen Technologies in the 3rd quarter valued at about $30,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Lumen Technologies in the 3rd quarter valued at about $36,000. Smartleaf Asset Management LLC grew its stake in Lumen Technologies by 173.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company’s stock valued at $36,000 after buying an additional 4,277 shares during the last quarter. Finally, Lazard Asset Management LLC grew its stake in Lumen Technologies by 3,825.7% in the 4th quarter. Lazard Asset Management LLC now owns 7,498 shares of the technology company’s stock valued at $39,000 after buying an additional 7,307 shares during the last quarter. 66.19% of the stock is owned by institutional investors.

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.