Lumen Technologies (NYSE:LUMN) Stock Price Down 8.7% – Should You Sell?

Lumen Technologies, Inc. (NYSE:LUMN)’s stock price was down 8.7% during mid-day trading on Tuesday . The stock traded as low as $4.61 and last traded at $4.44. Approximately 1,649,783 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 18,313,282 shares. The stock had previously closed at $4.86.

Analyst Upgrades and Downgrades

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

Lumen Technologies Stock Performance

The firm has a market capitalization of $4.22 billion, a P/E ratio of -83.28 and a beta of 1.28. 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 firm has a 50-day moving average price of $4.95 and a two-hundred day moving average price of $6.06.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates 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%. On average, analysts forecast that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new position in shares of Lumen Technologies during the third quarter valued at $30,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Lumen Technologies in the third quarter worth about $36,000. Smartleaf Asset Management LLC grew its position 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 worth $36,000 after purchasing an additional 4,277 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Lumen Technologies by 3,825.7% in the 4th 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 during the period. Finally, R Squared Ltd purchased a new position in shares of Lumen Technologies in the fourth quarter worth about $48,000. Institutional investors 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.