Lumen Technologies Target of Unusually Large Options Trading (NYSE:LUMN)

Lumen Technologies, Inc. (NYSE:LUMN) was the target of some unusual options trading activity on Wednesday. Stock investors acquired 77,816 call options on the stock. This represents an increase of 341% compared to the average volume of 17,655 call options.

Lumen Technologies Price Performance

Shares of LUMN stock opened at $4.09 on Friday. Lumen Technologies has a 52 week low of $0.97 and a 52 week high of $10.33. The stock has a market capitalization of $4.14 billion, a PE ratio of -81.68 and a beta of 1.28. The company has a debt-to-equity ratio of 37.70, a quick ratio of 1.20 and a current ratio of 1.21. The stock’s fifty day moving average is $4.92 and its 200-day moving average is $6.05.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.14. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. Equities research analysts expect that Lumen Technologies will post -0.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LUMN. Legacy Investment Solutions LLC bought a new stake in shares of Lumen Technologies during the third quarter worth $30,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Lumen Technologies during the 3rd quarter worth about $36,000. Smartleaf Asset Management LLC lifted its position in Lumen Technologies by 173.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company’s stock valued at $36,000 after purchasing an additional 4,277 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Lumen Technologies by 3,825.7% in the 4th quarter. Lazard Asset Management LLC now owns 7,498 shares of the technology company’s stock valued at $39,000 after purchasing an additional 7,307 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Lumen Technologies during the 4th quarter worth approximately $48,000. Institutional investors and hedge funds own 66.19% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on LUMN shares. Citigroup raised Lumen Technologies from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $8.00 to $6.50 in a report on Wednesday, February 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $4.25 price target on shares of Lumen Technologies in a research note on Monday, February 10th. Finally, Wells Fargo & Company upgraded Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price objective for the company in a research note on Friday, February 21st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $4.59.

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.