Voyager Technologies (NYSE:VOYG) Shares Down 9% – Here’s Why

Voyager Technologies, Inc. (NYSE:VOYG)’s share price dropped 9% during mid-day trading on Monday . The company traded as low as $34.10 and last traded at $34.1920. Approximately 301,184 shares changed hands during trading, a decline of 84% from the average daily volume of 1,929,884 shares. The stock had previously closed at $37.57.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. BTIG Research started coverage on shares of Voyager Technologies in a research note on Thursday, June 11th. They issued a “buy” rating and a $55.00 price objective for the company. Wolfe Research reiterated an “outperform” rating and issued a $55.00 target price on shares of Voyager Technologies in a report on Wednesday, June 3rd. Jefferies Financial Group boosted their target price on shares of Voyager Technologies from $40.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Citigroup upped their price target on shares of Voyager Technologies from $36.00 to $44.00 and gave the company a “buy” rating in a report on Monday, May 18th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Voyager Technologies in a research note on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Voyager Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $44.92.

Voyager Technologies Trading Down 9.6%

The company has a current ratio of 4.57, a quick ratio of 4.52 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $1.82 billion and a P/E ratio of -12.14. The business’s fifty day simple moving average is $36.47 and its two-hundred day simple moving average is $30.90.

Voyager Technologies (NYSE:VOYG) last posted its quarterly earnings data on Monday, May 4th. The company reported ($0.61) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.75) by $0.14. The company had revenue of $35.25 million for the quarter. Voyager Technologies had a negative net margin of 72.90% and a negative return on equity of 18.42%. The business’s revenue for the quarter was up .1% on a year-over-year basis. As a group, analysts forecast that Voyager Technologies, Inc. will post -3.48 earnings per share for the current year.

Hedge Funds Weigh In On Voyager Technologies

Several large investors have recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. bought a new stake in shares of Voyager Technologies in the 3rd quarter worth approximately $54,119,000. Wellington Management Group LLP raised its stake in shares of Voyager Technologies by 653.9% in the third quarter. Wellington Management Group LLP now owns 1,631,613 shares of the company’s stock valued at $48,589,000 after purchasing an additional 1,415,192 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in Voyager Technologies in the second quarter worth $38,997,000. Senvest Management LLC lifted its position in Voyager Technologies by 29.3% in the fourth quarter. Senvest Management LLC now owns 3,905,721 shares of the company’s stock worth $102,096,000 after purchasing an additional 884,962 shares during the period. Finally, Alliancebernstein L.P. acquired a new stake in Voyager Technologies during the second quarter worth $24,720,000.

Voyager Technologies Company Profile

We are an innovation-driven defense technology and space solutions company. Our company was purpose-built to address issues at the forefront of defense, national security and space industries and we have organized our business to reflect this goal. We strive to solve complex challenges to fortify national security, protect critical assets and unlock new frontiers for human progress and economic development. We are committed to developing and delivering an array of transformative, mission-critical solutions to customers enabled by our advanced technology, analytics and space infrastructure capabilities.