Lumen Technologies Inc (NYSE:LUMN) shares traded -4.32% lower at $5.76 on Wall Street last session.
LUMN stock price is now 165.04% away from the 50-day moving average and 252.79% away from the 200-day moving average. The market capitalization of the company currently stands at $5.86B.
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With the price target enhanced from $1.75 to $4, Wells Fargo Downgraded its rating from Equal Weight to Underweight for Lumen Technologies Inc (NYSE: LUMN). , while ‘Goldman’ rates the stock as ‘Neutral’
In other news, GOFF STACEY W, INSIDER bought 374,492 shares of the company’s stock on Aug 08 ’24. The stock was bought for $2,381,769 at an average price of $6.36. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 08 ’24, Officer GOFF STACEY W bought 71,025 shares of the business’s stock. A total of $451,719 was incurred on buying the stock at an average price of $6.36. A total of 2.69% of the company’s stock is owned by insiders.
During the past 12 months, Lumen Technologies Inc has had a low of $0.78 and a high of $7.83. As of last week, the company has a debt-to-equity ratio of 40.52, a current ratio of 0.95, and a quick ratio of 0.90. The fifty day moving average price for LUMN is $2.2622 and a two-hundred day moving average price translates $1.6542 for the stock.
The latest earnings results from Lumen Technologies Inc (NYSE: LUMN) was released for 2024-06-30. The net profit margin was -15.06% and return on equity was -150.18% for LUMN. The company reported revenue of $3.27 billion for the quarter, compared to $3.66 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -10.73 percent. For the current quarter, analysts expect LUMN to generate $3.22B in revenue.
