Voyager Technologies (NYSE:VOYG) Stock Price Down 6.5% – Here’s Why

Voyager Technologies, Inc. (NYSE:VOYG) dropped 6.5% on Tuesday . The company traded as low as $39.52 and last traded at $39.6450. Approximately 512,462 shares were traded during trading, a decline of 71% from the average daily volume of 1,794,187 shares. The stock had previously closed at $42.42.

Analysts Set New Price Targets

A number of research firms have issued reports on VOYG. BTIG Research assumed coverage on shares of Voyager Technologies in a report on Thursday. They issued a “buy” rating and a $55.00 price objective for the company. Citigroup upped their price objective on shares of Voyager Technologies from $36.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Zacks Research raised shares of Voyager Technologies from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 15th. Weiss Ratings restated a “sell (e+)” rating on shares of Voyager Technologies in a research report on Tuesday. Finally, Wedbush raised their target price on Voyager Technologies from $46.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $44.92.

Voyager Technologies Trading Up 4.7%

The business has a fifty day simple moving average of $34.52 and a 200-day simple moving average of $29.97. The firm has a market cap of $2.21 billion and a price-to-earnings ratio of -14.87. The company has a debt-to-equity ratio of 1.11, a quick ratio of 4.52 and a current ratio of 4.57.

Voyager Technologies (NYSE:VOYG) last posted its earnings results on Monday, May 4th. The company reported ($0.61) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.14. The business 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 company’s revenue was up .1% on a year-over-year basis. As a group, equities analysts forecast that Voyager Technologies, Inc. will post -3.48 earnings per share for the current fiscal year.

Institutional Trading of Voyager Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VOYG. Federation des caisses Desjardins du Quebec acquired a new position in shares of Voyager Technologies in the 4th quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Voyager Technologies during the fourth quarter worth $28,000. Sunbelt Securities Inc. bought a new position in Voyager Technologies during the fourth quarter worth $33,000. Ameritas Investment Partners Inc. acquired a new position in Voyager Technologies in the third quarter valued at $34,000. Finally, Russell Investments Group Ltd. bought a new stake in Voyager Technologies during the third quarter valued at $35,000.

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.