Lumen Technologies (NYSE:LUMN) Shares Down 4.6% – Time to Sell?

Lumen Technologies, Inc. (NYSE:LUMN)’s stock price fell 4.6% on Monday . The stock traded as low as $6.19 and last traded at $6.21. 4,388,472 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 19,268,873 shares. The stock had previously closed at $6.51.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LUMN. Citigroup raised their price target on shares of Lumen Technologies from $6.50 to $8.00 and gave the stock a “neutral” rating in a research note on Friday, November 29th. TD Cowen dropped their price objective on shares of Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group lifted their price objective on shares of Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Three equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $4.71.

Lumen Technologies Stock Down 4.6 %

The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 53.05. The company has a market cap of $6.30 billion, a price-to-earnings ratio of -2.90 and a beta of 1.21. The firm’s fifty day simple moving average is $7.17 and its 200 day simple moving average is $4.86.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings results on Tuesday, November 5th. The technology company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.04). Lumen Technologies had a negative return on equity of 49.74% and a negative net margin of 16.06%. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.21 billion. During the same quarter last year, the firm earned ($0.09) EPS. The company’s revenue was down 11.5% on a year-over-year basis. Sell-side analysts predict that Lumen Technologies, Inc. will post -0.38 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Sanctuary Advisors LLC acquired a new stake in Lumen Technologies during the 2nd quarter worth $25,000. ANTIPODES PARTNERS Ltd acquired a new stake in Lumen Technologies during the 2nd quarter worth $26,000. Concord Wealth Partners boosted its stake in Lumen Technologies by 98.8% during the 3rd quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock worth $28,000 after purchasing an additional 1,992 shares during the period. Legacy Investment Solutions LLC acquired a new stake in Lumen Technologies during the 3rd quarter worth $30,000. Finally, Fifth Third Wealth Advisors LLC purchased a new position in Lumen Technologies during the 2nd quarter worth $33,000. Institutional investors and hedge funds own 66.19% of the company’s stock.

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.