Lumen Technologies Inc (NYSE:LUMN) price on Wednesday, October 23, remained unchanged to $6.13.
A look at the stock’s price movement, the close in the last trading session was $6.13, moving within a range at $6.05 and $6.36. The beta value (5-Year monthly) was 1.188. Turning to its 52-week performance, $7.83 and $0.78 were the 52-week high and 52-week low respectively. Overall, LUMN moved -14.74% over the past month.
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Lumen Technologies Inc’s market cap currently stands at around $6.23 billion, with investors looking forward to this quarter’s earnings report slated for in November.
Analysts have a consensus estimate of 3.22B for the company’s revenue for the quarter, with a low and high estimate of 3.17B and 3.25B respectively. The average forecast suggests down to a -10.80% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 12.97B, representing a -10.90% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that LUMN is a 50% Buy. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
7 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 3 analyst(s) rate the stock as a Hold, 1 recommend LUMN as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 3 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
LUMN’s current price about -5.76% and -0.75% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 47.00, while 7-day volatility ratio is 10.53% and 6.88% in the 30-day chart. Further, Lumen Technologies Inc (LUMN) has a beta value of 1.18, and an average true range (ATR) of 0.49. Analysts have given the company’s stock an average 52-week price target of $4, forecast between a low of $3.15 and high of $10. Looking at the price targets, the low is 48.61% off current price level while to achieve the yearly target high, price needs to move -63.13%. Nonetheless, investors will most likely welcome a 34.75% jump to $4 which is the analysts’ median price.
If we refocus on Lumen Technologies Inc (NYSE:LUMN), historical trading data shows that trading volumes averaged 15.83 over the past 10 days and 38.00 million over the past 3 months. The company’s latest data on shares outstanding shows there are 1.01 billion shares.
The 7.90% of Lumen Technologies Inc’s shares are in the hands of company insiders while institutional holders own 65.02% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 61.16 million on 2024-09-30, giving us a short ratio of 2.93. The data shows that as of 2024-09-30 short interest in Lumen Technologies Inc (LUMN) stood at 834.0 of shares outstanding, with shares short falling to 74.52 million registered in 2024-08-30. Current price change has pushed the stock 234.97% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the LUMN stock continues to rise going into the next quarter.
