Lumen Technologies (NYSE:LUMN) Upgraded at Wells Fargo & Company

Lumen Technologies (NYSE:LUMN) was upgraded by equities research analysts at Wells Fargo & Company from an “underweight” rating to an “equal weight” rating in a research note issued to investors on Friday,Finviz reports. The firm presently has a $5.00 price target on the technology company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 6.50% from the stock’s current price.

A number of other equities research analysts also recently issued reports on LUMN. The Goldman Sachs Group boosted their price target on Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Royal Bank of Canada restated a “sector perform” rating and set a $4.25 price target on shares of Lumen Technologies in a research note on Monday, February 10th. TD Cowen cut their price target on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. Finally, Citigroup boosted their price target on Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a research note on Friday, November 29th. Two analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $4.78.

Lumen Technologies Price Performance

NYSE LUMN opened at $4.70 on Friday. Lumen Technologies has a one year low of $0.97 and a one year high of $10.33. The stock has a 50-day moving average of $5.38 and a 200 day moving average of $6.17. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of -93.88 and a beta of 1.28. The company has a debt-to-equity ratio of 37.70, a quick ratio of 1.20 and a current ratio of 1.21.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings data 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 return on equity of 46.17% and a negative net margin of 0.42%. On average, sell-side analysts forecast that Lumen Technologies will post -0.87 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Mackenzie Financial Corp grew its stake in shares of Lumen Technologies by 1,127.7% during the 4th quarter. Mackenzie Financial Corp now owns 790,031 shares of the technology company’s stock valued at $4,195,000 after acquiring an additional 725,681 shares during the period. Forum Financial Management LP raised its position in shares of Lumen Technologies by 72.5% during the fourth quarter. Forum Financial Management LP now owns 27,552 shares of the technology company’s stock valued at $146,000 after buying an additional 11,581 shares during the last quarter. Breakthru Advisory Services LLC purchased a new position in shares of Lumen Technologies in the fourth quarter worth $107,000. Alpine Global Management LLC bought a new position in shares of Lumen Technologies during the fourth quarter worth $166,000. Finally, DCM Advisors LLC grew its stake in Lumen Technologies by 45.7% during the fourth quarter. DCM Advisors LLC now owns 41,672 shares of the technology company’s stock valued at $221,000 after acquiring an additional 13,072 shares in the last quarter. 66.19% of the stock is currently 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.