The Attractiveness of Investing In Lumen Technologies Inc. (LUMN) is Growing


Following these proceedings, Wells Fargo downgraded its Lumen Technologies Inc. [LUMN] rating to an Equal weight from a an Overweight in a research note published on Friday. PT values the company’s stock at a premium of 26.0 to its Friday closing price. Citigroup also remained covering LUMN and has increased its forecast on November 04, 2021 with a “Neutral” recommendation from previously “Sell” rating. Oppenheimer revised its rating on May 20, 2021. It rated LUMN as “a Perform” which previously was an “an Outperform”.

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Price Performance Review of LUMN

On Friday, Lumen Technologies Inc. [NYSE:LUMN] saw its stock jump 2.07% to $5.92. On the same session, the stock had its day’s lowest price of $5.68, but rose to a high of $6.05. Over the last five days, the stock has lost -19.35%. Lumen Technologies Inc. shares have fallen nearly -52.83% since the year began. Nevertheless, the stocks have fallen -56.85% over the past one year. While a 52-week high of $14.49 was reached on 01/10/22, a 52-week low of $5.78 was recorded on 11/04/22. SMA at 50 days reached $7.98, while 200 days put it at $10.32. A total of 42.79 million shares were traded, compared to the trading of 30.99 million shares in the previous session.

Levels Of Support And Resistance For LUMN Stock

The 24-hour chart illustrates a support level at 5.72, which if violated will result in even more drops to 5.51. On the upside, there is a resistance level at 6.09. A further resistance level may holdings at 6.25. The Relative Strength Index (RSI) on the 14-day chart is 31.45, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.59, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 87.50%. Stochastics %K at 19.90% 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 Jul 14, 2022, growing by 13.39 million shares to a total of 147.07 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 133.68 million shares. There was a rise of 9.1%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 16.13% of the overall stock float, the days-to-cover ratio (short ratio) rose to 14.34.

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

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 114,713,136 shares, or roughly 11.08% of the outstanding LUMN shares. In other words, the investor’s shares have risen by 2,523,696 from its previous 13-F filing of 112189440.0. Additionally, BlackRock Fund Advisors decreased -3.20% of its stake after which the total value it holdings stand at $530,411,766. Over the last quarter, SSgA Funds Management, Inc. sold -830,234 shares of Lumen Technologies Inc., while Southeastern Asset Management, In sold -13,250,752 shares. At present, Dimensional Fund Advisors LP is holding 20,401,388 shares valued at $148.52 million. Geode Capital Management LLC owned 19,780,500 shares of the company at the time of its most recent 13F filing, worth $144.0 million.


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