Lumen Technologies Target of Unusually Large Options Trading (NYSE:LUMN)

Lumen Technologies, Inc. (NYSE:LUMN) was the target of some unusual options trading on Friday. Stock traders acquired 24,120 call options on the stock. This represents an increase of approximately 51% compared to the typical volume of 15,964 call options.

Lumen Technologies Stock Up 7.4 %

Shares of NYSE LUMN opened at $3.78 on Friday. The company has a market cap of $3.87 billion, a P/E ratio of -75.58 and a beta of 1.29. The firm has a 50-day simple moving average of $4.07 and a two-hundred day simple moving average of $5.48. Lumen Technologies has a 1 year low of $0.97 and a 1 year high of $10.33. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.16. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. The company had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter in the previous year, the business earned ($0.04) EPS. Lumen Technologies’s revenue was down 3.3% compared to the same quarter last year. Research analysts anticipate that Lumen Technologies will post -0.87 earnings per share for the current year.

Institutional Trading of Lumen Technologies

A number of large investors have recently made changes to their positions in LUMN. Smartleaf Asset Management LLC lifted its holdings in Lumen Technologies by 173.3% during 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 in the last quarter. Lazard Asset Management LLC raised its stake in shares of Lumen Technologies by 3,825.7% during the fourth quarter. Lazard Asset Management LLC now owns 7,498 shares of the technology company’s stock valued at $39,000 after acquiring an additional 7,307 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Lumen Technologies in the fourth quarter valued at approximately $48,000. Conning Inc. bought a new position in Lumen Technologies in the first quarter worth approximately $39,000. Finally, Quantinno Capital Management LP purchased a new position in Lumen Technologies during the 4th quarter worth $54,000. 66.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on LUMN shares. 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 note on Friday, February 21st. Royal Bank of Canada restated a “sector perform” rating and set a $4.25 target price on shares of Lumen Technologies in a research report on Monday, February 10th. Finally, Citigroup upgraded Lumen Technologies from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $8.00 to $6.50 in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Lumen Technologies has an average rating of “Hold” and a consensus price target of $4.59.

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.