Voyager Technologies (NYSE:VOYG) Shares Up 11% – Here’s Why

Voyager Technologies, Inc. (NYSE:VOYG)’s stock price shot up 11% during mid-day trading on Friday. The stock traded as high as $22.88 and last traded at $22.5630. Approximately 329,516 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 1,890,541 shares. The stock had previously closed at $20.33.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on VOYG. Wall Street Zen downgraded Voyager Technologies from a “sell” rating to a “strong sell” rating in a report on Sunday, November 1st. KeyCorp reduced their target price on Voyager Technologies from $50.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday. Weiss Ratings lowered Voyager Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, October 6th. Morgan Stanley lowered their price target on Voyager Technologies from $37.00 to $36.00 and set an “underweight” rating for the company in a research note on Friday, October 16th. Finally, BTIG Research cut their price target on shares of Voyager Technologies from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Voyager Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.20.

Voyager Technologies Trading Up 10.8%

The company has a fifty day simple moving average of $29.92 and a two-hundred day simple moving average of $31.58. The company has a quick ratio of 3.72, a current ratio of 2.93 and a debt-to-equity ratio of 2.28. The stock has a market capitalization of $1.31 billion, a P/E ratio of -7.63 and a beta of 4.49.

Voyager Technologies (NYSE:VOYG) last announced its quarterly earnings results on Monday, November 2nd. The company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.02). The business had revenue of $88.72 million during the quarter. Voyager Technologies had a negative return on equity of 42.47% and a negative net margin of 78.96%. Voyager Technologies’s quarterly revenue was up 124.1% on a year-over-year basis. During the same period in the prior year, the business earned ($0.28) EPS. On average, sell-side analysts expect that Voyager Technologies, Inc. will post -3.37 earnings per share for the current year.

Insider Buying and Selling at Voyager Technologies

In other news, President Matthew Kuta sold 199,807 shares of the 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 completion of the sale, the president owned 187,758 shares of the company’s stock, valued at $8,067,961.26. This represents a 51.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 27.04% of the stock is owned by company insiders.

Hedge Funds Weigh In On Voyager Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fulcrum Asset Management LLP acquired a new position in Voyager Technologies during the 3rd quarter worth approximately $28,000. J. Derek Lewis & Associates Inc. bought a new position in shares of Voyager Technologies during the 3rd quarter worth approximately $212,000. Pictet Asset Management Holding SA acquired a new stake in shares of Voyager Technologies in the third quarter valued at approximately $221,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Voyager Technologies in the third quarter worth $27,820,000. Finally, Sterling Capital Management LLC boosted its holdings in Voyager Technologies by 850.5% during the third quarter. Sterling Capital Management LLC now owns 1,730 shares of the company’s stock worth $52,000 after purchasing an additional 1,548 shares during the last quarter.

Voyager Technologies Company Profile

Voyager Technologies, Inc is a space and defense company that develops and operates technologies and infrastructure for commercial, civil and national security applications. Its activities span space stations, in-space infrastructure, satellite and spacecraft systems, and defense technologies designed to support government and commercial customers.

The company’s portfolio includes Starlab, a planned commercial space station being developed with international and industry partners, as well as space infrastructure and spacecraft capabilities associated with its operating businesses.