Voyager Technologies (NYSE:VOYG) Stock Dropped to Strong Sell by Wall Street Zen

Wall Street Zen downgraded shares of Voyager Technologies (NYSE:VOYG) from a sell rating to a strong sell rating in a research note issued to investors on Saturday,Wall Street Zen reports.

Several other analysts have also commented on VOYG. Wolfe Research reiterated an “outperform” rating and issued a $55.00 price target on shares of Voyager Technologies in a research report on Wednesday, June 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Voyager Technologies in a research report on Tuesday. BTIG Research began coverage on Voyager Technologies in a research note on Thursday, June 11th. They issued a “buy” rating and a $55.00 target price on the stock. Citigroup raised their price target on Voyager Technologies from $44.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $65.00 price target on shares of Voyager Technologies in a report on Sunday, August 9th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.20.

Voyager Technologies Trading Up 0.8%

NYSE:VOYG opened at $31.36 on Friday. The company has a market capitalization of $1.83 billion, a PE ratio of -13.40 and a beta of 4.39. 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 has a 52-week low of $17.41 and a 52-week high of $52.40. The stock has a fifty day simple moving average of $34.02 and a 200-day simple moving average of $33.22.

Voyager Technologies (NYSE:VOYG) last posted its earnings results on Monday, August 3rd. The company reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($1.01) by $0.31. The firm 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% compared to the same quarter last year. During the same quarter last year, the business posted ($1.23) earnings per share. On average, equities research analysts expect that Voyager Technologies will post -3.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Voyager Technologies

In related news, President Matthew Kuta sold 199,807 shares of the company’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 of the company’s stock, 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 filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 27.04% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of VOYG. Tema ETFs LLC boosted its holdings in shares of Voyager Technologies by 125,688.6% during the second quarter. Tema ETFs LLC now owns 1,353,485 shares of the company’s stock worth $43,650,000 after purchasing an additional 1,352,409 shares during the last quarter. Tidal Investments LLC acquired a new position in Voyager Technologies in the second quarter valued at $42,593,000. Wellington Management Group LLP increased its stake in Voyager Technologies by 39.3% in the second quarter. Wellington Management Group LLP now owns 2,307,088 shares of the company’s stock valued at $74,404,000 after purchasing an additional 650,531 shares during the last quarter. Capital International Investors lifted its position in Voyager Technologies by 93.4% during the fourth quarter. Capital International Investors now owns 1,033,158 shares of the company’s stock worth $27,007,000 after buying an additional 498,963 shares during the period. Finally, Readystate Asset Management LP boosted its stake in Voyager Technologies by 1,464.5% in the 2nd quarter. Readystate Asset Management LP now owns 410,251 shares of the company’s stock worth $13,231,000 after buying an additional 384,028 shares during the last quarter.

About Voyager Technologies

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.