In Friday’s Wall Street session, Lumen Technologies Inc (NYSE:LUMN) shares traded at $4.66, down -0.64% from the previous session.
LUMN stock price is now -14.45% away from the 50-day moving average and -0.65% away from the 200-day moving average. The market capitalization of the company currently stands at $4.72B.
With the price target maintained at $5, Wells Fargo recently Upgraded its rating from Underweight to Equal Weight for Lumen Technologies Inc (NYSE: LUMN). On August 16, 2024, Wells Fargo Downgraded its previous ‘Equal Weight’ rating to ‘Underweight’ on the stock increasing its target price from $1.75 to quote $4, while ‘JP Morgan’ rates the stock as ‘Neutral’
In other news, Fowler James, Director bought 10,000 shares of the company’s stock on Sep 03 ’24. The stock was bought for $46,990 at an average price of $4.70. Upon completion of the transaction, the Director now directly owns 384,056 shares in the company, valued at $1.79 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 08 ’24, INSIDER GOFF STACEY W bought 374,492 shares of the business’s stock. A total of $2,381,769 was incurred on buying the stock at an average price of $6.36. A total of 7.84% of the company’s stock is owned by insiders.
During the past 12 months, Lumen Technologies Inc has had a low of $0.97 and a high of $10.33. As of last week, the company has a debt-to-equity ratio of 41.20, a current ratio of 1.15, and a quick ratio of 1.11.
The net profit margin was -0.42% and return on equity was -12.49% for LUMN. The company reported revenue of $3.33 billion for the quarter, compared to $3.52 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -5.35 percent.
