Voyager Technologies (NYSE:VOYG) Stock Falls 6.5% – What’s Next?

Shares of Voyager Technologies, Inc. (NYSE:VOYG) dropped 6.5% during trading on Wednesday. The stock traded as low as $29.07 and last traded at $28.8650. 384,784 shares were traded during trading, a decline of 80% from the average daily volume of 1,927,457 shares. The stock had previously closed at $30.88.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Citigroup raised their price target on shares of Voyager Technologies from $44.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. BTIG Research began coverage on Voyager Technologies in a research note on Thursday, June 11th. They issued a “buy” rating and a $55.00 price target on the stock. Wall Street Zen raised shares of Voyager Technologies from a “strong sell” rating to a “sell” rating in a research note on Sunday. Wedbush assumed coverage on Voyager Technologies in a research note on Wednesday, July 1st. They set an “outperform” rating and a $46.00 price objective for the company. Finally, Jefferies Financial Group restated a “buy” rating and set a $55.00 price objective on shares of Voyager Technologies in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.20.

Voyager Technologies Price Performance

The company has a debt-to-equity ratio of 1.19, a current ratio of 3.80 and a quick ratio of 3.72. The firm has a market capitalization of $1.64 billion, a PE ratio of -12.05 and a beta of 4.44. The firm has a 50-day simple moving average of $34.70 and a 200-day simple moving average of $33.42.

Voyager Technologies (NYSE:VOYG) last issued its quarterly earnings results on Monday, August 3rd. The company reported ($0.70) earnings per share for the quarter, topping the consensus estimate of ($1.01) by $0.31. Voyager Technologies had a negative net margin of 78.61% and a negative return on equity of 27.31%. The business had revenue of $52.75 million for the quarter. During the same quarter in the prior year, the business earned ($1.23) EPS. The company’s revenue was up 15.4% compared to the same quarter last year. As a group, equities analysts forecast that Voyager Technologies, Inc. will post -3.48 earnings per share for the current year.

Insider Buying and Selling at Voyager Technologies

In related news, President Matthew Kuta sold 199,807 shares of Voyager Technologies stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $42.97, for a total transaction of $8,585,706.79. Following the transaction, the president owned 187,758 shares in the company, valued at approximately $8,067,961.26. The trade was a 51.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 27.04% of the company’s stock.

Hedge Funds Weigh In On Voyager Technologies

Large investors have recently made changes to their positions in the business. Readystate Asset Management LP boosted its stake in shares of Voyager Technologies by 1,464.5% in the second quarter. Readystate Asset Management LP now owns 410,251 shares of the company’s stock worth $13,231,000 after acquiring an additional 384,028 shares during the period. The Manufacturers Life Insurance Company bought a new stake in shares of Voyager Technologies during the first quarter valued at approximately $565,000. Bank of America Corp DE grew its stake in Voyager Technologies by 66.7% during the first quarter. Bank of America Corp DE now owns 444,434 shares of the company’s stock valued at $10,395,000 after acquiring an additional 177,842 shares in the last quarter. Tidal Investments LLC purchased a new position in shares of Voyager Technologies during the second quarter valued at about $42,593,000. Finally, Wellington Management Group LLP boosted its stake in Voyager Technologies by 39.3% during the second quarter. Wellington Management Group LLP now owns 2,307,088 shares of the company’s stock valued at $74,404,000 after buying an additional 650,531 shares during the last quarter.

Voyager Technologies Company Profile

Voyager Technologies, Inc is a space and defense company that develops technologies and provides infrastructure for commercial, civil and national-security missions. Its activities span space exploration, orbital infrastructure, satellite and spacecraft systems, defense solutions, and research conducted in the microgravity environment.

The company supports the development of commercial space stations and other in-orbit platforms, while also providing mission services, robotics, payload integration and related space technologies.