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

Lumen Technologies, Inc. (NYSE:LUMN) was the recipient of unusually large options trading activity on Tuesday. Investors purchased 54,375 call options on the company. This is an increase of 87% compared to the average volume of 29,138 call options.

Lumen Technologies Stock Up 7.8%

Shares of LUMN stock opened at $9.30 on Wednesday. The business has a 50-day moving average price of $8.16 and a two-hundred day moving average price of $6.87. Lumen Technologies has a 12-month low of $3.01 and a 12-month high of $11.95. The firm has a market cap of $9.54 billion, a P/E ratio of -5.64 and a beta of 1.46.

Lumen Technologies (NYSE:LUMN) last announced 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 firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.04 billion. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 13.02%.The company’s revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.13) EPS. As a group, research analysts expect that Lumen Technologies will post -0.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports 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. Citigroup cut shares of Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 price target on the stock. in a report on Friday, October 31st. 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 raised their price target on Lumen Technologies from $4.25 to $8.00 and gave the company a “sector perform” rating in a report on Tuesday, November 25th. Finally, The Goldman Sachs Group boosted their price objective on Lumen Technologies from $4.10 to $4.60 and gave the stock a “neutral” rating in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $6.72.

Hedge Funds Weigh In On Lumen Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the business. UMB Bank n.a. boosted its position in Lumen Technologies by 49.1% during the third quarter. UMB Bank n.a. now owns 4,105 shares of the technology company’s stock valued at $25,000 after buying an additional 1,351 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Lumen Technologies by 132.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company’s stock valued at $26,000 after acquiring an additional 3,391 shares during the last quarter. MRP Capital Investments LLC boosted its holdings in Lumen Technologies by 160.0% during the 2nd quarter. MRP Capital Investments LLC now owns 6,500 shares of the technology company’s stock valued at $28,000 after acquiring an additional 4,000 shares during the period. Caitong International Asset Management Co. Ltd grew its position in Lumen Technologies by 3,527.9% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 6,639 shares of the technology company’s stock worth $29,000 after acquiring an additional 6,456 shares during the last quarter. Finally, Fifth Third Bancorp increased its stake in Lumen Technologies by 24.5% in the 3rd quarter. Fifth Third Bancorp now owns 5,343 shares of the technology company’s stock worth $33,000 after purchasing an additional 1,051 shares during the period. Institutional investors own 66.19% of the company’s stock.

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.