Short Interest in Lumen Technologies, Inc. (NYSE:LUMN) Rises By … – MarketBeat

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Lumen Technologies, Inc. (NYSE:LUMN – Get Rating) was the recipient of a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 155,800,000 shares, a growth of 7.2% from the November 15th total of 145,390,000 shares. Currently, 15.3% of the shares of the company are sold short. Based on an average trading volume of 23,020,000 shares, the short-interest ratio is presently 6.8 days.

Insider Activity at Lumen Technologies

In related news, Director T Michael Glenn acquired 20,000 shares of the stock in a transaction dated Friday, November 4th. The shares were bought at an average cost of $5.92 per share, for a total transaction of $118,400.00. Following the purchase, the director now owns 136,414 shares in the company, valued at approximately $807,570.88. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director T Michael Glenn acquired 20,000 shares of the stock in a transaction dated Friday, November 4th. The shares were bought at an average cost of $5.92 per share, for a total transaction of $118,400.00. Following the purchase, the director now owns 136,414 shares in the company, valued at approximately $807,570.88. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Martha Helena Bejar acquired 12,500 shares of the stock in a transaction dated Tuesday, November 8th. The stock was bought at an average price of $6.36 per share, for a total transaction of $79,500.00. Following the completion of the purchase, the director now owns 101,430 shares in the company, valued at approximately $645,094.80. The disclosure for this purchase can be found here. Insiders have bought 37,500 shares of company stock worth $224,600 over the last three months. Company insiders own 0.76% of the company’s stock.

Institutional Trading of Lumen Technologies

Hedge funds have recently added to or reduced their stakes in the business. Truvestments Capital LLC acquired a new stake in Lumen Technologies during the 2nd quarter worth $25,000. Tcwp LLC bought a new position in Lumen Technologies during the 1st quarter worth about $27,000. Wellington Shields Capital Management LLC bought a new position in Lumen Technologies during the 1st quarter worth about $27,000. Parkside Financial Bank & Trust increased its holdings in Lumen Technologies by 47.0% during the 3rd quarter. Parkside Financial Bank & Trust now owns 4,212 shares of the technology company’s stock worth $30,000 after purchasing an additional 1,347 shares in the last quarter. Finally, Private Trust Co. NA bought a new position in Lumen Technologies during the 2nd quarter worth about $31,000. Institutional investors and hedge funds own 79.02% of the company’s stock.

Lumen Technologies Stock Performance

LUMN stock opened at $5.41 on Friday. The business’s fifty day moving average is $6.18 and its 200-day moving average is $8.85. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.73. The company has a market cap of $5.60 billion, a P/E ratio of 2.71 and a beta of 1.00. Lumen Technologies has a twelve month low of $5.11 and a twelve month high of $13.93.
Lumen Technologies (NYSE:LUMN – Get Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The technology company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.22). The business had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.41 billion. Lumen Technologies had a return on equity of 13.58% and a net margin of 10.95%. Equities research analysts forecast that Lumen Technologies will post 1.3 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Moffett Nathanson decreased their price target on Lumen Technologies to $6.00 in a research report on Thursday, September 29th. Royal Bank of Canada decreased their price target on Lumen Technologies from $11.00 to $6.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 20th. JPMorgan Chase & Co. decreased their price target on Lumen Technologies from $10.00 to $7.00 and set an “underweight” rating on the stock in a research report on Thursday, November 3rd. Wells Fargo & Company lowered Lumen Technologies from an “overweight” rating to an “equal weight” rating and set a $8.00 price target on the stock. in a research report on Wednesday, October 5th. Finally, Morgan Stanley decreased their price target on Lumen Technologies from $9.50 to $8.00 and set an “underweight” rating on the stock in a research report on Monday, October 24th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $7.00.

About Lumen Technologies

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Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services under the Lumen, Quantum Fiber, and CenturyLink brands to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets.

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