Lumen Technologies (NYSE:LUMN) Shares Gap Down to $1.41

Shares of Lumen Technologies, Inc. (NYSE:LUMNGet Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $1.41, but opened at $1.37. Lumen Technologies shares last traded at $1.40, with a volume of 606,718 shares changing hands.

Lumen Technologies Trading Down 0.6 %

The company has a market capitalization of $1.42 billion, a P/E ratio of -0.13 and a beta of 1.10. The company has a debt-to-equity ratio of 47.56, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a fifty day moving average price of $1.55 and a 200-day moving average price of $1.49.

Lumen Technologies (NYSE:LUMNGet Free Report) last released its earnings results on Tuesday, February 6th. The technology company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.11. Lumen Technologies had a positive return on equity of 4.85% and a negative net margin of 70.74%. The company had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.45 billion. During the same period in the prior year, the company posted $0.43 earnings per share. Lumen Technologies’s quarterly revenue was down 7.4% on a year-over-year basis. On average, equities research analysts anticipate that Lumen Technologies, Inc. will post -0.3 earnings per share for the current year.

Insider Buying and Selling at Lumen Technologies

In other news, Director James Fowler acquired 33,500 shares of Lumen Technologies stock in a transaction on Tuesday, February 13th. The stock was acquired at an average cost of $1.68 per share, with a total value of $56,280.00. Following the completion of the acquisition, the director now owns 216,538 shares in the company, valued at $363,783.84. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director James Fowler acquired 33,500 shares of Lumen Technologies stock in a transaction on Tuesday, February 13th. The stock was acquired at an average cost of $1.68 per share, with a total value of $56,280.00. Following the completion of the acquisition, the director now owns 216,538 shares in the company, valued at $363,783.84. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director T Michael Glenn bought 50,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were bought at an average price of $1.47 per share, for a total transaction of $73,500.00. Following the transaction, the director now owns 272,019 shares of the company’s stock, valued at $399,867.93. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 113,500 shares of company stock valued at $174,780. Company insiders own 0.76% of the company’s stock.

Institutional Investors Weigh In On Lumen Technologies

Several institutional investors have recently made changes to their positions in the stock. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Lumen Technologies by 8.3% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,045 shares of the technology company’s stock worth $147,000 after acquiring an additional 995 shares in the last quarter. SVB Wealth LLC lifted its position in shares of Lumen Technologies by 7.9% during the first quarter. SVB Wealth LLC now owns 18,743 shares of the technology company’s stock worth $212,000 after acquiring an additional 1,370 shares in the last quarter. D.A. Davidson & CO. lifted its position in shares of Lumen Technologies by 11.2% during the first quarter. D.A. Davidson & CO. now owns 18,167 shares of the technology company’s stock worth $205,000 after acquiring an additional 1,837 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund lifted its position in shares of Lumen Technologies by 7.5% during the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 34,135 shares of the technology company’s stock worth $249,000 after acquiring an additional 2,370 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its position in shares of Lumen Technologies by 3.1% in the first quarter. Gamco Investors INC. ET AL now owns 84,996 shares of the technology company’s stock worth $958,000 after buying an additional 2,547 shares in the last quarter. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Lumen Technologies Company Profile

(Get Free Report)

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.

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