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

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LUMN. UMB Bank n.a. raised its position in shares of 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 last quarter. Farther Finance Advisors LLC lifted its position in shares of Lumen Technologies by 132.3% in the second quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company’s stock worth $26,000 after buying an additional 3,391 shares in the last quarter. MRP Capital Investments LLC boosted its stake in Lumen Technologies by 160.0% during the second quarter. MRP Capital Investments LLC now owns 6,500 shares of the technology company’s stock valued at $28,000 after buying an additional 4,000 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings 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 valued at $29,000 after buying an additional 6,456 shares in 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 acquiring an additional 1,051 shares during the last quarter. 66.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LUMN. Zacks Research raised shares of Lumen Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lumen Technologies in a research note on Thursday, January 22nd. The Goldman Sachs Group boosted their price objective on shares of Lumen Technologies from $4.10 to $4.60 and gave the company a “neutral” rating in a research report on Friday, October 3rd. Wall Street Zen raised Lumen Technologies from a “sell” rating to a “hold” rating in a report on Sunday, November 9th. Finally, Citigroup downgraded Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 target price on the stock. in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $6.72.

Lumen Technologies Stock Performance

Shares of Lumen Technologies stock opened at $9.19 on Thursday. Lumen Technologies has a fifty-two week low of $3.01 and a fifty-two week high of $11.95. The company has a market capitalization of $9.42 billion, a P/E ratio of -5.57 and a beta of 1.46. The company has a fifty day moving average of $8.19 and a 200 day moving average of $6.89.

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. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 13.02%.The business had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the previous year, the business earned ($0.13) earnings per share. The business’s revenue was down 4.2% on a year-over-year basis. Analysts forecast that Lumen Technologies 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.