Voyager Technologies (NYSE:VOYG) Stock Price Down 5.4% – Should You Sell?

Voyager Technologies, Inc. (NYSE:VOYG) shares traded down 5.4% during mid-day trading on Tuesday. The stock traded as low as $31.36 and last traded at $31.3750. 1,307,920 shares traded hands during trading, a decline of 32% from the average daily volume of 1,930,736 shares. The stock had previously closed at $33.18.

Analyst Upgrades and Downgrades

VOYG has been the topic of a number of analyst reports. Wedbush assumed coverage on shares of Voyager Technologies in a report on Wednesday, July 1st. They issued an “outperform” rating and a $46.00 price objective on the stock. Wolfe Research reissued an “outperform” rating and set a $55.00 target price on shares of Voyager Technologies in a research note on Wednesday, June 3rd. BTIG Research initiated coverage on shares of Voyager Technologies in a research report on Thursday, June 11th. They issued a “buy” rating and a $55.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Voyager Technologies in a research note on Tuesday, September 22nd. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $37.00 price target on shares of Voyager Technologies in a report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Voyager Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $45.20.

Voyager Technologies Trading Up 1.1%

The firm has a market capitalization of $1.78 billion, a P/E ratio of -13.04 and a beta of 4.39. The business’s 50 day moving average is $34.33 and its two-hundred day moving average is $33.35. The company has a quick ratio of 3.72, a current ratio of 3.80 and a debt-to-equity ratio of 1.19.

Voyager Technologies (NYSE:VOYG) last announced its earnings results on Monday, August 3rd. The company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.01) by $0.31. Voyager Technologies had a negative net margin of 78.61% and a negative return on equity of 27.31%. The firm had revenue of $52.75 million during the quarter. During the same quarter in the prior year, the company earned ($1.23) EPS. The business’s quarterly revenue was up 15.4% on a year-over-year basis. Analysts expect that Voyager Technologies, Inc. will post -3.48 EPS for the current year.

Insider Activity at Voyager Technologies

In related news, President Matthew Kuta sold 199,807 shares of the firm’s stock in a transaction that occurred 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 transaction, the president owned 187,758 shares in the company, valued at $8,067,961.26. This trade represents a 51.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 27.04% of the stock is owned by corporate 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 company. Readystate Asset Management LP lifted its holdings in shares of Voyager Technologies by 1,464.5% in the second quarter. Readystate Asset Management LP now owns 410,251 shares of the company’s stock valued at $13,231,000 after buying an additional 384,028 shares during the period. The Manufacturers Life Insurance Company acquired a new position in Voyager Technologies during the first quarter worth about $565,000. Bank of America Corp DE grew its holdings in Voyager Technologies by 66.7% during the first quarter. Bank of America Corp DE now owns 444,434 shares of the company’s stock worth $10,395,000 after acquiring an additional 177,842 shares during the period. Tidal Investments LLC bought a new stake in Voyager Technologies in the second quarter worth about $42,593,000. Finally, Wellington Management Group LLP lifted its holdings in Voyager Technologies by 39.3% in the 2nd quarter. Wellington Management Group LLP now owns 2,307,088 shares of the company’s stock valued at $74,404,000 after acquiring an additional 650,531 shares during the last quarter.

Voyager Technologies Company Profile

Voyager Technologies, Inc is a space and defense company that develops and delivers technologies and services for commercial, civil and national-security customers. Its activities span space infrastructure, in-space transportation and services, defense systems, and technologies supporting human spaceflight and exploration.

The company is associated with Nanoracks, which provides commercial access to space and in-orbit payload and infrastructure services, and Starlab Space, a joint venture focused on developing a commercial space station.