Investors Buy Large Volume of Lumen Technologies Call Options (NYSE:LUMN)

Lumen Technologies, Inc. (NYSE:LUMN) was the recipient of unusually large options trading on Thursday. Stock traders purchased 65,705 call options on the stock. This represents an increase of approximately 199% compared to the typical volume of 22,000 call options.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wells Fargo & Company increased their target price on Lumen Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Raymond James Financial reiterated a “market perform” rating on shares of Lumen Technologies in a research report on Wednesday, February 4th. Citigroup cut their target price on Lumen Technologies from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Thursday, February 5th. The Goldman Sachs Group increased their target price on Lumen Technologies from $5.50 to $7.25 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. Finally, JPMorgan Chase & Co. raised their price target on Lumen Technologies from $6.00 to $7.00 and gave the company a “neutral” rating in a report on Monday. Ten analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $7.91.

Insider Activity

In related news, Director Diankha Linear sold 45,000 shares of the stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $7.89, for a total transaction of $355,050.00. Following the completion of the sale, the director owned 198,229 shares in the company, valued at approximately $1,564,026.81. This trade represents a 18.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Lumen Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. UMB Bank n.a. raised its position in Lumen Technologies by 49.1% during the 3rd quarter. UMB Bank n.a. now owns 4,105 shares of the technology company’s stock valued at $25,000 after purchasing an additional 1,351 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new position in shares of Lumen Technologies in the 4th quarter valued at $25,000. Ascentis Independent Advisors purchased a new position in shares of Lumen Technologies in the 1st quarter valued at $27,000. International Assets Investment Management LLC purchased a new position in shares of Lumen Technologies in the 4th quarter valued at $30,000. Finally, Fifth Third Bancorp increased its holdings in shares of Lumen Technologies by 24.5% in the 3rd quarter. Fifth Third Bancorp now owns 5,343 shares of the technology company’s stock valued at $33,000 after acquiring an additional 1,051 shares during the period. 66.19% of the stock is owned by institutional investors.

Lumen Technologies Stock Performance

Shares of Lumen Technologies stock opened at $10.32 on Friday. The stock has a market cap of $10.63 billion, a price-to-earnings ratio of -5.93 and a beta of 1.65. The stock has a 50 day moving average price of $7.68 and a 200-day moving average price of $8.12. Lumen Technologies has a one year low of $3.37 and a one year high of $11.95.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.34). The company had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.83 billion. The business’s revenue was down 8.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.13) earnings per share. Sell-side analysts predict that Lumen Technologies will post -0.39 earnings per share for the current fiscal year.

About Lumen Technologies

Lumen Technologies is a multinational technology company specializing in integrated network, edge cloud, security and collaboration services for enterprise and public sector clients. The company’s core offerings include high-capacity fiber and IP-based connectivity, managed edge computing solutions designed to accelerate applications and data processing closer to end users, and cybersecurity services ranging from DDoS protection to unified threat management. Through its unified portfolio, Lumen enables organizations to support digital transformation initiatives, modernize infrastructure and enhance operational resilience.

Leveraging one of the largest fiber footprints in North America, as well as infrastructure in Latin America and parts of Europe, Lumen connects customers across more than 60 countries.