Voyager Technologies (NYSE:VOYG) Share Price Breaks Above 50-Day Moving Average on Analyst Downgrade

Shares of Voyager Technologies, Inc. (NYSE:VOYG) crossed above its 50 day moving average during trading on Wednesday after Wall Street Zen upgraded the stock from a strong sell rating to a sell rating. The stock has a 50 day moving average of $29.41 and traded as high as $30.69. Voyager Technologies shares last traded at $29.51, with a volume of 1,459,977 shares trading hands.

VOYG has been the topic of a number of other reports. Weiss Ratings lowered shares of Voyager Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, October 6th. Wedbush began coverage on Voyager Technologies in a research report on Wednesday, July 1st. They issued an “outperform” rating and a $46.00 target price for the company. Citigroup boosted their target price on Voyager Technologies from $44.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Jefferies Financial Group reaffirmed a “buy” rating and set a $55.00 price objective on shares of Voyager Technologies in a report on Tuesday, October 6th. Finally, Morgan Stanley cut their price target on Voyager Technologies from $37.00 to $36.00 and set an “underweight” rating for the company in a report on Friday, October 16th. Two 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $41.90.

Institutional Investors Weigh In On Voyager Technologies

Institutional investors have recently made changes to their positions in the business. Readystate Asset Management LP increased 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 worth $13,231,000 after buying an additional 384,028 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in Voyager Technologies during the 1st quarter valued at $565,000. Bank of America Corp DE grew its stake in shares of Voyager Technologies by 66.7% in the first quarter. Bank of America Corp DE now owns 444,434 shares of the company’s stock worth $10,395,000 after purchasing an additional 177,842 shares during the last quarter. Tidal Investments LLC purchased a new position in shares of Voyager Technologies during the second quarter valued at approximately $42,593,000. Finally, Wellington Management Group LLP raised 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 worth $74,404,000 after purchasing an additional 650,531 shares in the last quarter.

Voyager Technologies Stock Up 1.7%

The company has a quick ratio of 2.88, a current ratio of 2.93 and a debt-to-equity ratio of 2.28. The firm has a market capitalization of $1.66 billion, a PE ratio of -9.94 and a beta of 4.49. The company’s fifty day simple moving average is $29.41 and its 200 day simple moving average is $31.45.

Voyager Technologies (NYSE:VOYG) last issued its quarterly earnings results on Monday, November 2nd. The company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.02). The firm had revenue of $88.72 million during the quarter. Voyager Technologies had a negative return on equity of 42.47% and a negative net margin of 78.96%. The firm’s revenue for the quarter was up 124.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.28) earnings per share. Analysts anticipate that Voyager Technologies, Inc. will post -3.30 earnings per share for the current fiscal year.

Voyager Technologies Company Profile

Voyager Technologies is a space and defense technology company that develops and provides products and services for government and commercial customers. Its work spans national security, space infrastructure and exploration, including technologies and mission support for activities in orbit. Through its space business, Voyager provides services such as payload integration and deployment, research support and access to the International Space Station. Its Nanoracks business has supported commercial use of the station, including through the Bishop Airlock.