Lumen Technologies Inc. [LUMN] stock Downgrade by Citigroup analyst, price target now $3.50

Lumen Technologies Inc. [NYSE: LUMN] plunged by -$0.05 during the normal trading session on Friday and reaching a high of $3.60 during the day while it closed the day at $3.56. The company report on February 13, 2023 that Lumen research reveals latest DDoS stats, trends, predictions and costs.

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Nearly 90% of Q4 DDoS attacks were potentially ‘hit and run” style, probing attacks.

Lumen Technologies® (NYSE: LUMN) today released its latest report detailing Distributed Denial of Service (DDoS) activity from Q4- and full-year 2022. The report includes 2023 predictions, a DDoS cost breakdown, and Q4 and full-year data from the Lumen DDoS mitigation service.

Lumen Technologies Inc. stock has also loss -7.29% of its value over the past 7 days. However, LUMN stock has declined by -38.94% in the 3 months of the year. Over the past six months meanwhile, it has lost -67.37% and lost -31.80% year-on date.

The market cap for LUMN stock reached $3.73 billion, with 1.03 billion shares outstanding and 1.02 billion shares in the current float. Compared to the average trading volume of 27.66M shares, LUMN reached a trading volume of 19436864 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Lumen Technologies Inc. [LUMN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for LUMN shares is $4.98 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on LUMN stock is a recommendation set at 3.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Citigroup have made an estimate for Lumen Technologies Inc. shares, keeping their opinion on the stock as Sell, with their previous recommendation back on February 08, 2023. While these analysts kept the previous recommendation, Goldman raised their target price to Neutral. The new note on the price target was released on December 06, 2022, representing the official price target for Lumen Technologies Inc. stock. Previously, the target price had yet another raise to $8, while Wells Fargo analysts kept a Equal Weight rating on LUMN stock.

The Average True Range (ATR) for Lumen Technologies Inc. is set at 0.26, with the Price to Sales ratio for LUMN stock in the period of the last 12 months amounting to 0.21. The Price to Book ratio for the last quarter was 0.34, with the Price to Cash per share for the same quarter was set at 1.19. Price to Free Cash Flow for LUMN in the course of the last twelve months was 3.98 with Quick ratio for the last quarter at 1.10.

LUMN stock trade performance evaluation

Lumen Technologies Inc. [LUMN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.29. With this latest performance, LUMN shares dropped by -32.83% in over the last four-week period, additionally sinking by -67.37% over the last 6 months – not to mention a drop of -62.99% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for LUMN stock in for the last two-week period is set at 27.23, with the RSI for the last a single of trading hit 23.43, and the three-weeks RSI is set at 30.16 for Lumen Technologies Inc. [LUMN]. The present Moving Average for the last 50 days of trading for this stock 5.00, while it was recorded at 3.69 for the last single week of trading, and 8.13 for the last 200 days.

Lumen Technologies Inc. [LUMN]: An insightful look at the core fundamentals

Lumen Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.

Lumen Technologies Inc. [LUMN]: Insider Ownership positions

There are presently around $2,913 million, or 80.90% of LUMN stock, in the hands of institutional investors. The top three institutional holders of LUMN stocks are: VANGUARD GROUP INC with ownership of 115,778,437, which is approximately -2.2% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 77,857,430 shares of the stock with an approximate value of $277.17 million in LUMN stocks shares; and STATE STREET CORP, currently with $191.87 million in LUMN stock with ownership of nearly -12.972% of the company’s market capitalization.

Positions in Lumen Technologies Inc. stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 355 institutional holders increased their position in Lumen Technologies Inc. [NYSE:LUMN] by around 150,912,860 shares. Additionally, 410 investors decreased positions by around 162,448,327 shares, while 135 investors held positions by with 504,903,146 shares. The mentioned changes placed institutional holdings at 818,264,333 shares, according to the latest SEC report filing. LUMN stock had 129 new institutional investments in for a total of 29,342,049 shares, while 131 institutional investors sold positions of 12,912,451 shares during the same period.


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