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Lumen Technologies Inc (NYSE: LUMN) Is Down -3.28% So Far This Year. Analysts Expect A Significant Price Rally

Lumen Technologies Inc (NYSE:LUMN) price closed higher on Monday, February 12, jumping 16.45% above its previous close.

A look at the daily price movement shows that the last close reads $1.52. The company’s 5Y monthly beta was ticking 1.01. Taking into account the 52-week price action we note that the stock hit a 52-week high of $4.08 and 52-week low of $0.78. The stock added 12.03% on its value in the past month.

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Lumen Technologies Inc, which has a market valuation of $1.79 billion, is expected to release its quarterly earnings report Apr 30, 2024 – May 06, 2024.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give LUMN a short term outlook of 50% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 50% Buy, while an average of long term indicators are currently assigning the stock as 50% Buy.

The overview shows that LUMN’s price is at present 27.38% off the SMA20 and 14.62% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 67.68, with weekly volatility standing at 10.01%. The indicator jumps to 9.46% when calculated based on the past 30 days. Lumen Technologies Inc (NYSE:LUMN)’s beta value is holding at 1.07, while the average true range (ATR) indicator is currently reading 0.14.

Turning out attention to how the Lumen Technologies Inc stock has performed in comparison to its peers in the industry, here’s what we find: LUMN’s stock is 16.45% on the day and -55.75% in the past 12 months, while Cisco Systems Inc. (CSCO) traded -0.28%% in the last session and was positioned 4.45% up on its price 12 months ago. Turning out attention to how the Lumen Technologies Inc stock has performed in comparison to its peers in the industry, here’s what we find: LUMN’s stock is 16.45% on the day and -55.75% in the past 12 months, while Cisco Systems Inc. (CSCO) traded -0.28%% in the last session and was positioned 4.45% up on its price 12 months ago. Another comparison is with Verizon Communications Inc. (VZ) whose stock price was up 0.96%% in the last trading session, and has flourished -0.55% over the past year. Also, AT&T Inc. (T) showed up trend of 1.07%% while its price kept floating at -11.63% over the past year.

An analysis of the Lumen Technologies Inc (NYSE:LUMN) stock in terms of its daily trading volume indicates that the 3-month average is 1.64. However, this figure increases on the past 10-day timeline to an average of 16.76 million.

Current records show that the company has 1.00B in outstanding shares. The insiders’ percentage holdings are 1.94% of outstanding shares while the percentage share held by institutions stands at 66.89%. The stats also highlight that short interest as of Jan 31, 2024, stood at 146.67 million shares, which puts the short ratio at the time at 9.12. From this we can glean that short interest is 14.54% of company’s current outstanding shares. Notably, we see that shares short in January rose slightly given the previous month’s figure stood at 139.64 million. But the -3.28% downside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.

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