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

Lumen Technologies, Inc. (NYSE:LUMN – Get Rating) was the target of unusually large options trading on Wednesday. Stock investors acquired 48,376 put options on the company. This represents an increase of 68% compared to the average daily volume of 28,838 put options.

Analysts Set New Price Targets

LUMN has been the subject of a number of research analyst reports. TheStreet downgraded Lumen Technologies from a “c” rating to a “d” rating in a report on Tuesday, February 7th. Citigroup cut Lumen Technologies from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $6.25 to $3.50 in a research note on Wednesday, February 8th. Finally, The Goldman Sachs Group reduced their price objective on Lumen Technologies from $6.00 to $4.00 and set a “neutral” rating for the company in a research note on Wednesday, February 8th. Three analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat.com, Lumen Technologies has an average rating of “Hold” and a consensus target price of $6.19.

Lumen Technologies Stock Down 2.9 %

Shares of NYSE:LUMN opened at $3.02 on Thursday. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of -1.91 and a beta of 1.04. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.96. Lumen Technologies has a 12-month low of $2.99 and a 12-month high of $12.54. The business’s 50 day moving average is $4.64 and its 200 day moving average is $6.29.

Lumen Technologies (NYSE:LUMN – Get Rating) last announced its earnings results on Tuesday, February 7th. The technology company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.31. The company had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.79 billion. Lumen Technologies had a positive return on equity of 13.17% and a negative net margin of 8.86%. Lumen Technologies’s quarterly revenue was down 21.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.51 earnings per share. On average, sell-side analysts forecast that Lumen Technologies will post 0.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Truvestments Capital LLC bought a new position in Lumen Technologies in the 2nd quarter worth about $25,000. Private Trust Co. NA purchased a new position in shares of Lumen Technologies in the 2nd quarter worth about $31,000. Parkside Financial Bank & Trust boosted its holdings in shares of Lumen Technologies by 47.0% in the 3rd quarter. Parkside Financial Bank & Trust now owns 4,212 shares of the technology company’s stock worth $30,000 after purchasing an additional 1,347 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of Lumen Technologies in the 3rd quarter worth about $32,000. Finally, Ellevest Inc. boosted its holdings in shares of Lumen Technologies by 489.7% in the 3rd quarter. Ellevest Inc. now owns 4,830 shares of the technology company’s stock worth $35,000 after purchasing an additional 4,011 shares in the last quarter. Hedge funds and other institutional investors own 76.03% of the company’s stock.

Lumen Technologies Company Profile

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Lumen Technologies, Inc is an investment holding company, which engages in the provision of integrated communications to residential and business customers. It operates through the following segments: Business and Mass Markets. Business segment provides products and services under four sales channels to enterprise and commercial customers.