Sunday, June 26, 2022

The Potential Rise in the Price of Lumen Technologies Inc. (LUMN) following insiders activity

Lumen Technologies Inc.’s recently made public that its EVP & GC GOFF STACEY W unloaded Company’s shares for reported $1.82 million on Nov 05. In the deal valued at $14.16 per share,128,616 shares were sold. As a result of this transaction, GOFF STACEY W now holds 642,539 shares worth roughly $ 6.93 million.

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Then, CLONTZ STEVEN T bought 5,000 shares, generating $59,880 in total proceeds. Upon buying the shares at $11.98, the Director now owns 300,015 shares.

As this happened, Citigroup upgraded its Lumen Technologies Inc. [LUMN] rating to a Neutral from a a Sell in a research note published on Tuesday. PT values the company’s stock at a premium of 17.0 to its Tuesday closing price. A number of analysts have revised their coverage, including Oppenheimer’s analysts, who decreased its forecast for the stock in mid May from “an Outperform” to “a Perform”. Morgan Stanley also remained covering LUMN and has decreased its forecast on January 28, 2021 with a “an Underweight” recommendation from previously “an Equal-weight” rating. Oppenheimer revised its rating on November 05, 2020. It rated LUMN as “an Outperform” which previously was an “a Perform”.

Price Performance Review of LUMN

On Tuesday, Lumen Technologies Inc. [NYSE:LUMN] saw its stock jump 3.85% to $10.79. On the same session, the stock had its day’s lowest price of $10.525, but rose to a high of $10.94. Over the last five days, the stock has gained 2.76%. Lumen Technologies Inc. shares have fallen nearly -14.02% since the year began. Nevertheless, the stocks have fallen -23.58% over the past one year. While a 52-week high of $14.49 was reached on 01/10/22, a 52-week low of $9.31 was recorded on 02/24/22. SMA at 50 days reached $11.22, while 200 days put it at $11.91. A total of 12.58 million shares were traded, compared to the trading of 15.34 million shares in the previous session.

Levels Of Support And Resistance For LUMN Stock

The 24-hour chart illustrates a support level at 10.56, which if violated will result in even more drops to 10.34. On the upside, there is a resistance level at 10.98. A further resistance level may holdings at 11.17. The Relative Strength Index (RSI) on the 14-day chart is 44.12, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.71, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 67.42%. Stochastics %K at 19.86% indicates the stock is a buying.

How much short interest is there in Lumen Technologies Inc.?

A steep rise in short interest was recorded in Lumen Technologies Inc. stocks on Apr 28, 2022, growing by 6.38 million shares to a total of 105.82 million shares. Yahoo Finance data shows the prior-month short interest on Mar 30, 2022 was 99.44 million shares. There was a rise of 6.03%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 11.61% of the overall stock float, the days-to-cover ratio (short ratio) rose to 11.14.

Lumen Technologies Inc. [LUMN] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 112,189,440 shares, or roughly 10.86% of the outstanding LUMN shares. In other words, the investor’s shares have risen by 2,721,315 from its previous 13-F filing of 109468125.0. Additionally, BlackRock Fund Advisors increased 1.84% of its stake after which the total value it holdings stand at $921,318,497, while Temasek Holdings Pte Ltd. reduced -25.29% of its stake to hold $889.35 million in the firm. Over the last quarter, Southeastern Asset Management, In sold -1,945,424 shares of Lumen Technologies Inc., while SSgA Funds Management, Inc. sold -469,703 shares. At present, First Trust Advisors LP is holding 19,959,863 shares valued at $244.31 million. Dimensional Fund Advisors LP owned 19,521,559 shares of the company at the time of its most recent 13F filing, worth $238.94 million.

According to FactSet, Lumen Technologies Inc.’s share price will average $10.40 in the next year, based on opinions of analysts polled by the firm. This is up nearly 1.06 percent from its previous closing price of $10.39. Analysts expect Lumen Technologies Inc. stock to reach the higher price of $12.50, while the lowest price estimate is $8.00. However, 13 analysts have rated LUMN stock as an Underweight in their predictions for 2022.

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