Polianta Ltd Invests $692,000 in Lumen Technologies, Inc. (NYSE:LUMN)

Polianta Ltd bought a new stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 130,400 shares of the technology company’s stock, valued at approximately $692,000.

Several other institutional investors have also added to or reduced their stakes in the business. Sanctuary Advisors LLC purchased a new position in shares of Lumen Technologies during the 2nd quarter valued at about $25,000. Concord Wealth Partners lifted its holdings in Lumen Technologies by 98.8% during the third quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock valued at $28,000 after purchasing an additional 1,992 shares in the last quarter. Legacy Investment Solutions LLC bought a new position in shares of Lumen Technologies in the third quarter worth approximately $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Lumen Technologies in the third quarter worth $36,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Lumen Technologies during the 3rd quarter valued at $46,000. 66.19% of the stock is currently owned by institutional investors.

Lumen Technologies Stock Performance

Lumen Technologies stock opened at $5.65 on Friday. Lumen Technologies, Inc. has a 52-week low of $0.97 and a 52-week high of $10.33. The firm’s fifty day moving average is $6.58 and its 200 day moving average is $5.62. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 53.05.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings results on Tuesday, November 5th. The technology company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.04). Lumen Technologies had a negative net margin of 16.06% and a negative return on equity of 49.74%. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.21 billion. During the same period in the previous year, the business posted ($0.09) EPS. The firm’s revenue was down 11.5% on a year-over-year basis. As a group, equities research analysts predict that Lumen Technologies, Inc. will post -0.38 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on LUMN shares. TD Cowen decreased their price target on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. The Goldman Sachs Group boosted their price target on Lumen Technologies from $4.50 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Citigroup increased their price objective on shares of Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a report on Friday, November 29th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $4.25 target price (up previously from $4.00) on shares of Lumen Technologies in a research report on Friday, December 20th. Three analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $4.66.

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.