Lumen Technologies Sees Unusually High Options Volume (NYSE:LUMN)

Lumen Technologies, Inc. (NYSE:LUMN) was the target of unusually large options trading activity on Wednesday. Stock investors bought 77,816 call options on the stock. This is an increase of approximately 341% compared to the average volume of 17,655 call options.

Institutional Investors Weigh In On Lumen Technologies

Hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC increased its position in Lumen Technologies by 3.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 76,905 shares of the technology company’s stock valued at $408,000 after acquiring an additional 2,220 shares during the period. O Shaughnessy Asset Management LLC grew its stake in shares of Lumen Technologies by 7.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 34,225 shares of the technology company’s stock worth $182,000 after purchasing an additional 2,457 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Lumen Technologies by 20.3% during the fourth quarter. Los Angeles Capital Management LLC now owns 14,760 shares of the technology company’s stock valued at $78,000 after purchasing an additional 2,489 shares during the period. Avior Wealth Management LLC raised its stake in shares of Lumen Technologies by 6.8% during the fourth quarter. Avior Wealth Management LLC now owns 41,845 shares of the technology company’s stock valued at $222,000 after purchasing an additional 2,657 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in Lumen Technologies by 15.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 20,852 shares of the technology company’s stock worth $111,000 after purchasing an additional 2,844 shares during the period. Institutional investors own 66.19% of the company’s stock.

Lumen Technologies Trading Down 5.3 %

NYSE:LUMN opened at $4.17 on Thursday. Lumen Technologies has a 12-month low of $0.97 and a 12-month 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. The business has a 50 day simple moving average of $4.95 and a 200 day simple moving average of $6.06. The firm has a market capitalization of $4.22 billion, a P/E ratio of -83.28 and a beta of 1.28.

Lumen Technologies (NYSE:LUMN) last released 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%. Equities research analysts predict that Lumen Technologies will post -0.87 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on LUMN shares. Wells Fargo & Company raised Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price objective for the company in a report on Friday, February 21st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $4.25 price target on shares of Lumen Technologies in a report on Monday, February 10th. Finally, Citigroup upgraded Lumen Technologies from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $8.00 to $6.50 in a research note on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Lumen Technologies currently has an average rating of “Hold” and a consensus target price of $4.59.

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.