Olympiad Research LP Purchases Shares of 20,226 Lumen Technologies, Inc. (NYSE:LUMN)

Olympiad Research LP acquired a new position in Lumen Technologies, Inc. (NYSE:LUMN) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 20,226 shares of the technology company’s stock, valued at approximately $107,000.

Several other hedge funds have also recently made changes to their positions in the business. Creative Planning increased its position in shares of Lumen Technologies by 8.2% during the third quarter. Creative Planning now owns 323,628 shares of the technology company’s stock valued at $2,298,000 after buying an additional 24,565 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Lumen Technologies during the 3rd quarter valued at approximately $46,000. Greenleaf Trust purchased a new position in shares of Lumen Technologies during the 3rd quarter worth approximately $99,000. Ballentine Partners LLC raised its position in shares of Lumen Technologies by 114.8% in the 3rd quarter. Ballentine Partners LLC now owns 26,206 shares of the technology company’s stock worth $186,000 after acquiring an additional 14,005 shares in the last quarter. Finally, Arkadios Wealth Advisors lifted its stake in shares of Lumen Technologies by 23.6% in the 3rd quarter. Arkadios Wealth Advisors now owns 13,367 shares of the technology company’s stock valued at $95,000 after purchasing an additional 2,554 shares during the period. 66.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on LUMN shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $4.25 price objective on shares of Lumen Technologies in a report on Monday, February 10th. The Goldman Sachs Group increased their price target on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Citigroup boosted their price objective on shares of Lumen Technologies from $6.50 to $8.00 and gave the stock a “neutral” rating in a research note on Friday, November 29th. TD Cowen decreased their target price on shares of Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company raised Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price target on the stock in a research report on Friday. Two analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $4.78.

Lumen Technologies Trading Down 7.0 %

Shares of NYSE LUMN opened at $4.34 on Tuesday. The company has a market cap of $4.40 billion, a PE ratio of -86.70 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 firm’s 50 day moving average price is $5.30 and its 200-day moving average price is $6.18. Lumen Technologies, Inc. has a 52-week low of $0.97 and a 52-week high of $10.33.

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

Lumen Technologies 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.