Voyager Technologies (NYSE:VOYG) Stock Gets Price Target Reduction from BTIG Research

Voyager Technologies (NYSE:VOYG) had its target price lowered by BTIG Research from $55.00 to $50.00 in a report released on Wednesday morning, Marketbeat.com reports. BTIG Research currently has a buy rating on the stock.

A number of other brokerages also recently weighed in on VOYG. Jefferies Financial Group reaffirmed a “buy” rating and set a $55.00 price objective on shares of Voyager Technologies in a research report on Tuesday, October 6th. Citigroup boosted 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. TD Cowen decreased their price target on shares of Voyager Technologies from $42.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, October 9th. Morgan Stanley lowered their price target on shares of Voyager Technologies from $37.00 to $36.00 and set an “underweight” rating on the stock in a report on Friday, October 16th. Finally, Wall Street Zen downgraded shares of Voyager Technologies from a “sell” rating to a “strong sell” rating in a research report on Sunday, November 1st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Voyager Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $43.20.

Voyager Technologies Stock Up 17.9%

NYSE:VOYG traded up $3.63 during trading hours on Wednesday, reaching $23.96. The company’s stock had a trading volume of 2,259,802 shares, compared to its average volume of 1,522,244. The stock has a 50 day moving average price of $29.70 and a two-hundred day moving average price of $31.54. The company has a debt-to-equity ratio of 1.19, a quick ratio of 3.72 and a current ratio of 3.80. The company has a market capitalization of $1.40 billion, a P/E ratio of -8.07 and a beta of 4.49. Voyager Technologies has a 12 month low of $17.41 and a 12 month high of $52.40.

Voyager Technologies (NYSE:VOYG) last announced its quarterly earnings results on Monday, November 2nd. The company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.02). The company had revenue of $88.72 million during the quarter. Voyager Technologies had a negative net margin of 78.96% and a negative return on equity of 41.56%. The company’s revenue for the quarter was up 124.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.28) EPS. Equities analysts predict that Voyager Technologies will post -3.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other Voyager Technologies news, President Matthew Kuta sold 199,807 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $42.97, for a total value of $8,585,706.79. Following the completion of the sale, the president owned 187,758 shares of the company’s stock, valued at approximately $8,067,961.26. This trade 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 the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 27.04% of the company’s stock.

Hedge Funds Weigh In On Voyager Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP grew its position in 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. Tema ETFs LLC increased its stake in Voyager Technologies by 125,688.6% during the 2nd quarter. Tema ETFs LLC now owns 1,353,485 shares of the company’s stock valued at $43,650,000 after purchasing an additional 1,352,409 shares in the last quarter. Tidal Investments LLC purchased a new position in shares of Voyager Technologies in the second quarter worth $42,593,000. Janus Henderson Group PLC raised its holdings in shares of Voyager Technologies by 0.5% in the first quarter. Janus Henderson Group PLC now owns 1,029,203 shares of the company’s stock worth $24,073,000 after buying an additional 5,225 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Voyager Technologies in the third quarter worth $27,820,000.

About Voyager Technologies

Voyager Technologies, Inc is a space and defense company that develops and operates technologies and infrastructure for commercial, civil and national security applications. Its activities span space stations, in-space infrastructure, satellite and spacecraft systems, and defense technologies designed to support government and commercial customers.

The company’s portfolio includes Starlab, a planned commercial space station being developed with international and industry partners, as well as space infrastructure and spacecraft capabilities associated with its operating businesses.