The Goldman Sachs Group Begins Coverage on Lumen Technologies (NYSE:LUMN)

The Goldman Sachs Group assumed coverage on shares of Lumen Technologies (NYSE:LUMN) in a research report report published on Monday morning, Marketbeat.com reports. The brokerage issued a sell rating and a $1.00 price objective on the technology company’s stock.

Lumen Technologies Price Performance

Shares of LUMN stock opened at $1.10 on Monday. Lumen Technologies has a 1-year low of $0.78 and a 1-year high of $2.34. The company has a market cap of $1.12 billion, a P/E ratio of -0.10 and a beta of 1.15. The company has a debt-to-equity ratio of 36.89, a current ratio of 1.03 and a quick ratio of 1.03. The stock’s 50-day moving average is $1.23 and its 200 day moving average is $1.44.

Lumen Technologies (NYSE:LUMN) last issued its earnings results on Tuesday, April 30th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). Lumen Technologies had a positive return on equity of 4.06% and a negative net margin of 76.21%. The firm had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter last year, the business earned $0.10 EPS. The business’s revenue was down 12.0% on a year-over-year basis. Research analysts predict that Lumen Technologies will post -0.16 earnings per share for the current fiscal year.

Insider Activity

In other Lumen Technologies news, CEO Kathleen E. Johnson bought 750,000 shares of Lumen Technologies stock in a transaction that occurred on Thursday, May 2nd. The stock was purchased at an average price of $1.28 per share, with a total value of $960,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 7,756,290 shares in the company, valued at approximately $9,928,051.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.68% of the company’s stock.

Hedge Funds Weigh In On Lumen Technologies

A number of institutional investors have recently modified their holdings of the stock. Strategies Wealth Advisors LLC acquired a new stake in Lumen Technologies during the fourth quarter worth about $26,000. Brighton Jones LLC acquired a new position in shares of Lumen Technologies in the 4th quarter valued at $27,000. HighPoint Advisor Group LLC purchased a new stake in Lumen Technologies during the fourth quarter worth $27,000. Belpointe Asset Management LLC grew its position in Lumen Technologies by 52.1% during the third quarter. Belpointe Asset Management LLC now owns 24,527 shares of the technology company’s stock valued at $35,000 after buying an additional 8,405 shares during the period. Finally, Fidelis Capital Partners LLC increased its holdings in Lumen Technologies by 94.6% in the first quarter. Fidelis Capital Partners LLC now owns 22,142 shares of the technology company’s stock valued at $35,000 after buying an additional 10,764 shares in the last quarter. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Lumen Technologies Company Profile

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.