Voyager Technologies (NYSE:VOYG) Shares Down 6.5% – What’s Next?

Voyager Technologies, Inc. (NYSE:VOYG)’s share price traded down 6.5% during trading on Wednesday. The company traded as low as $29.07 and last traded at $28.8650. Approximately 384,784 shares changed hands during trading, a decline of 80% from the average session volume of 1,927,457 shares. The stock had previously closed at $30.88.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on VOYG shares. Wedbush initiated coverage on shares of Voyager Technologies in a report on Wednesday, July 1st. They issued an “outperform” rating and a $46.00 price target on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a $55.00 price objective on shares of Voyager Technologies in a research note on Tuesday. Citigroup raised their target price 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 started coverage on shares of Voyager Technologies in a report on Thursday, June 11th. They issued a “buy” rating and a $55.00 price target on the stock. Finally, Wall Street Zen raised Voyager Technologies from a “strong sell” rating to a “sell” rating in a research report on Sunday, October 4th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $44.20.

Voyager Technologies Stock Down 1.9%

The business has a 50-day moving average price of $34.91 and a 200-day moving average price of $33.45. The stock has a market cap of $1.64 billion, a PE ratio of -12.06 and a beta of 4.44. The company has a current ratio of 3.80, a quick ratio of 3.72 and a debt-to-equity ratio of 1.19.

Voyager Technologies (NYSE:VOYG) last posted its quarterly earnings data on Monday, August 3rd. The company reported ($0.70) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.01) by $0.31. The company had revenue of $52.75 million during the quarter. Voyager Technologies had a negative net margin of 78.61% and a negative return on equity of 27.31%. The business’s revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.23) earnings per share. As a group, analysts forecast that Voyager Technologies, Inc. will post -3.58 earnings per share for the current year.

Insider Transactions at Voyager Technologies

In other Voyager Technologies news, President Matthew Kuta sold 199,807 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was 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 directly 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 is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 27.04% of the company’s stock.

Hedge Funds Weigh In On Voyager Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Readystate Asset Management LP boosted its position in Voyager Technologies by 1,464.5% during 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 last quarter. The Manufacturers Life Insurance Company acquired a new stake in Voyager Technologies in the 1st quarter valued at about $565,000. Bank of America Corp DE lifted its stake in Voyager Technologies by 66.7% in the 1st quarter. Bank of America Corp DE now owns 444,434 shares of the company’s stock worth $10,395,000 after purchasing an additional 177,842 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of Voyager Technologies during the 2nd quarter worth approximately $42,593,000. Finally, Wellington Management Group LLP boosted its holdings in shares of Voyager Technologies by 39.3% during the 2nd quarter. Wellington Management Group LLP now owns 2,307,088 shares of the company’s stock worth $74,404,000 after purchasing an additional 650,531 shares during the last quarter.

About Voyager Technologies

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.