Lumen Technologies Inc. [NYSE: LUMN] loss -1.86% or -0.06 points to close at $3.17 with a heavy trading volume of 24550874 shares. The company report on March 3, 2023 that Fair Isaac & Co. Set to Join S&P 500; Others to Join S&P MidCap 400 and S&P SmallCap 600.
From Robots to Self-Driving Cars: 5 AI Stocks to Consider for Your Portfolio
The artificial intelligence (AI) revolution is already here and it's about to change everything we know about everything. With the global market for AI projected to grow from $137 billion in 2022 to over $1.81 trillion by 2030, there's never been a better time to invest in this burgeoning industry. That's why we've compiled a list of the Top 5 AI Stocks to Buy for 2023. These companies are at the forefront of the AI revolution, and have the potential to deliver huge returns to investors like you.
Get our free report, "Top 5 AI Stocks to Buy for 2023".
Sponsored
S&P Dow Jones Indices (“S&P DJI”) will make the following changes to the S&P 500, S&P MidCap 400 and S&P SmallCap 600 indices effective prior to the open of trading on Monday, March 20, to coincide with the quarterly rebalance. The changes are being made to ensure each index is more representative of its market capitalization range. The company moving to the S&P 500 is more representative of the large-cap market space. All companies moving to the S&P MidCap 400 are more representative of the mid-cap market space, and all companies moving to the S&P SmallCap 600 are more representative of the small-cap market space. The companies being discretionarily removed from the S&P SmallCap 600 are no longer representative of the small-cap market space.
S&P MidCap 400 constituent Fair Isaac & Co Inc. (NYSE:FICO) will replace Lumen Technologies Inc. (NYSE:LUMN) in the S&P 500, and Lumen Technologies will replace Bed Bath & Beyond Inc (NASD:BBBY) in the S&P SmallCap 600. Valaris Limited (NYSE:VAL) will replace Fair Isaac & Co in the S&P MidCap 400.
It opened the trading session at $3.22, the shares rose to $3.25 and dropped to $3.14, the range by which the price of stock traded the whole day. The daily chart for LUMN points out that the company has recorded -68.17% loss over the past six months. However, it is still -1.6% lower than its most recent low trading price.
If we look at the average trading volume of 28.41M shares, LUMN reached to a volume of 24550874 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $4.89 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 0.24, with the Price to Sales ratio for LUMN stock in the period of the last 12 months amounting to 0.19. The Price to Book ratio for the last quarter was 0.30, with the Price to Cash per share for the same quarter was set at 1.23. Price to Free Cash Flow for LUMN in the course of the last twelve months was 3.44 with Quick ratio for the last quarter at 1.10.
Trading performance analysis for LUMN stock
Lumen Technologies Inc. [LUMN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.96. With this latest performance, LUMN shares dropped by -40.86% in over the last four-week period, additionally sinking by -68.17% over the last 6 months – not to mention a drop of -69.34% 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 22.18, with the RSI for the last a single of trading hit 16.42, and the three-weeks RSI is set at 26.30 for Lumen Technologies Inc. [LUMN]. The present Moving Average for the last 50 days of trading for this stock 4.78, while it was recorded at 3.29 for the last single week of trading, and 7.94 for the last 200 days.
Lumen Technologies Inc. [LUMN]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Lumen Technologies Inc. [LUMN] shares currently have an operating margin of +18.84 and a Gross Margin at +35.60. Lumen Technologies Inc.’s Net Margin is presently recorded at -8.86.
Return on Equity for this stock declined to -13.90, with Return on Assets sitting at -2.99.
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.
An analysis of insider ownership at Lumen Technologies Inc. [LUMN]
There are presently around $2,594 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 $246.81 million in LUMN stocks shares; and STATE STREET CORP, currently with $170.85 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.