AXQ Capital LP Purchases New Shares in Lumen Technologies, Inc. (NYSE:LUMN)

AXQ Capital LP acquired a new stake in Lumen Technologies, Inc. (NYSE:LUMN) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 15,820 shares of the technology company’s stock, valued at approximately $84,000.

Other institutional investors also recently modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in shares of Lumen Technologies in the third quarter valued at approximately $30,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Lumen Technologies in the 3rd quarter valued at $36,000. Smartleaf Asset Management LLC increased its stake in shares of Lumen Technologies by 173.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company’s stock valued at $36,000 after buying an additional 4,277 shares during the period. R Squared Ltd acquired a new position in shares of Lumen Technologies during the fourth quarter valued at $48,000. Finally, HB Wealth Management LLC acquired a new stake in Lumen Technologies in the fourth quarter worth about $59,000. 66.19% of the stock is owned by institutional investors.

Lumen Technologies Stock Performance

Shares of Lumen Technologies stock opened at $4.86 on Tuesday. Lumen Technologies, Inc. has a 12 month low of $0.97 and a 12 month high of $10.33. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70. The company has a market capitalization of $4.92 billion, a PE ratio of -97.10 and a beta of 1.28. The stock’s fifty day simple moving average is $5.00 and its 200 day simple moving average is $6.08.

Lumen Technologies (NYSE:LUMN) last issued 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, research analysts predict that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $4.25 target price on shares of Lumen Technologies in a research note on Monday, February 10th. Citigroup raised shares of Lumen Technologies from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $8.00 to $6.50 in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company upgraded 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, February 21st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Lumen Technologies currently has a consensus rating of “Hold” and an average price target 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.