Voyager Technologies (NYSE:VOYG) Trading Down 7.3% – Here’s Why

Voyager Technologies, Inc. (NYSE:VOYG) was down 7.3% on Wednesday . The stock traded as low as $38.92 and last traded at $39.1540. Approximately 160,284 shares were traded during trading, a decline of 92% from the average daily volume of 1,901,600 shares. The stock had previously closed at $42.24.

Analysts Set New Price Targets

Several research firms have recently commented on VOYG. Wolfe Research reaffirmed an “outperform” rating and issued a $55.00 price objective on shares of Voyager Technologies in a research note on Wednesday, June 3rd. Jefferies Financial Group reiterated a “buy” rating and set a $65.00 price objective on shares of Voyager Technologies in a research note on Sunday, August 9th. Citigroup increased 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. Weiss Ratings upgraded shares of Voyager Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, June 26th. Finally, Wedbush initiated coverage on shares of Voyager Technologies in a research report on Wednesday, July 1st. They issued an “outperform” rating and a $46.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Voyager Technologies currently has an average rating of “Moderate Buy” and an average price target of $44.82.

Voyager Technologies Stock Performance

The company has a quick ratio of 3.72, a current ratio of 3.80 and a debt-to-equity ratio of 1.19. The business has a 50 day moving average price of $33.53 and a two-hundred day moving average price of $31.90. The stock has a market cap of $2.17 billion, a P/E ratio of -16.76 and a beta of 4.19.

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

Insider Activity at Voyager Technologies

In related news, President Matthew James Kuta sold 199,807 shares of the company’s 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 transaction, the president owned 187,758 shares in the company, valued at approximately $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 can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 27.04% of the company’s stock.

Institutional Trading of Voyager Technologies

Several hedge funds have recently bought and sold shares of VOYG. Legal & General Group Plc bought a new position in shares of Voyager Technologies during the 2nd quarter valued at about $40,000. New York State Common Retirement Fund purchased a new stake in shares of Voyager Technologies in the second quarter worth about $146,000. Squarepoint Ops LLC purchased a new stake in shares of Voyager Technologies in the second quarter worth about $7,501,000. Alliancebernstein L.P. bought a new position in Voyager Technologies during the second quarter valued at approximately $24,720,000. Finally, Raymond James Financial Inc. purchased a new position in Voyager Technologies during the 2nd quarter valued at approximately $105,000.

About Voyager Technologies

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.