AIGH Capital Management LLC Makes New $15.61 Million Investment in Lumen Technologies, Inc. $LUMN

AIGH Capital Management LLC purchased a new stake in Lumen Technologies, Inc. (NYSE:LUMN) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,550,000 shares of the technology company’s stock, valued at approximately $15,606,000. Lumen Technologies makes up 4.4% of AIGH Capital Management LLC’s investment portfolio, making the stock its 10th largest holding. AIGH Capital Management LLC owned 0.25% of Lumen Technologies at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Arkadios Wealth Advisors lifted its holdings in Lumen Technologies by 10.5% during the third quarter. Arkadios Wealth Advisors now owns 14,154 shares of the technology company’s stock worth $87,000 after acquiring an additional 1,340 shares in the last quarter. CWM LLC raised its holdings in shares of Lumen Technologies by 19.9% in the third quarter. CWM LLC now owns 9,673 shares of the technology company’s stock valued at $59,000 after purchasing an additional 1,606 shares during the last quarter. Congress Asset Management Co. raised its holdings in Lumen Technologies by 0.4% during the third quarter. Congress Asset Management Co. now owns 417,147 shares of the technology company’s stock worth $2,553,000 after acquiring an additional 1,780 shares in the last quarter. Merit Financial Group LLC boosted its holdings in shares of Lumen Technologies by 9.2% in the 3rd quarter. Merit Financial Group LLC now owns 24,633 shares of the technology company’s stock valued at $151,000 after buying an additional 2,079 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in Lumen Technologies by 5.3% during the third quarter. Nisa Investment Advisors LLC now owns 42,595 shares of the technology company’s stock worth $261,000 after purchasing an additional 2,151 shares during the period. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on LUMN. Wall Street Zen upgraded shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. The Goldman Sachs Group increased their target price on shares of Lumen Technologies from $4.10 to $4.60 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Zacks Research upgraded Lumen Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 8th. Royal Bank Of Canada upped their price target on shares of Lumen Technologies from $4.25 to $8.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 25th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lumen Technologies in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $6.72.

Lumen Technologies Stock Down 4.0%

NYSE LUMN opened at $8.57 on Friday. The firm’s 50-day simple moving average is $8.12 and its two-hundred day simple moving average is $6.78. The company has a market cap of $8.78 billion, a PE ratio of -5.19 and a beta of 1.46. Lumen Technologies, Inc. has a 52 week low of $3.01 and a 52 week high of $11.95.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings data on Thursday, October 30th. The technology company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.11. The company had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Lumen Technologies had a negative net margin of 13.02% and a negative return on equity of 158.40%. Lumen Technologies’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.13) earnings per share. As a group, equities research analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Lumen Technologies Company Profile

Lumen Technologies is a multinational technology company specializing in integrated network, edge cloud, security and collaboration services for enterprise and public sector clients. The company’s core offerings include high-capacity fiber and IP-based connectivity, managed edge computing solutions designed to accelerate applications and data processing closer to end users, and cybersecurity services ranging from DDoS protection to unified threat management. Through its unified portfolio, Lumen enables organizations to support digital transformation initiatives, modernize infrastructure and enhance operational resilience.

Leveraging one of the largest fiber footprints in North America, as well as infrastructure in Latin America and parts of Europe, Lumen connects customers across more than 60 countries.