In yesterday’s Wall Street session, Lumen Technologies Inc (NYSE:LUMN) shares traded at $6.25, up 2.63% from the previous session.
LUMN stock price is now 60.44% away from the 50-day moving average and 204.87% away from the 200-day moving average. The market capitalization of the company currently stands at $6.36B.
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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, 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 $2.4 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 8.00% 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 $4.0 and a two-hundred day moving average price translates $2.0754 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.
