Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Lumen Technologies Inc shares valued at $959,850 were purchased by Johnson Kathleen E on May 02 ’24. At $1.28 per share, Johnson Kathleen E acquired 750,000 shares. The insider’s holdings grew to 7,756,290 shares worth approximately $25.75 million following the completion of this transaction.
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Also, SIEGEL LAURIE purchased 30,000 shares, netting a total of over 47,997 in proceeds. Following the buying of shares at $1.60 each, the insider now holds 30,000 shares.
Before that, GLENN T MICHAEL had added 50,000 shares to its account. In a trade valued at $73,300, the Director bought Lumen Technologies Inc shares for $1.47 each. Upon closing the transaction, the insider’s holdings increased to 50,000 shares, worth approximately $0.9 million.
As published in their initiating research note from Goldman on July 01, 2024, Lumen Technologies Inc [LUMN] has been a Sell and the price target has been revised to $1. Analysts at Raymond James upgraded the stock from ‘”an Underperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in early June. As of February 08, 2023, Citigroup has decreased its “Neutral” rating to a “Sell” for LUMN.
Analyzing LUMN Stock Performance
During the last five days, there has been a surge of approximately 102.44%. Over the course of the year, Lumen Technologies Inc shares have jumped approximately 81.42%. Shares of the company reached a 52-week high of $4.20 on 08/01/24 and a 52-week low of $0.97 on 07/01/24. A 50-day SMA is recorded $1.35, while a 200-day SMA reached $1.43. Nevertheless, trading volume fell to 132.84 million shares from 160.38 million shares the previous day.
Support And Resistance Levels for Lumen Technologies Inc (LUMN)
According to the 24-hour chart, there is a support level at 2.91, which, if violated, would cause prices to drop to 2.49. In the upper region, resistance lies at 3.97. The next price resistance is at 4.61. RSI (Relative Strength Index) is 96.33 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.22, which suggests the price will increase in the coming days. Percent R is at 28.95%, indicating bullish price movement. Stochastics%K at holding indicates that the stock is to be held.
