Voyager Technologies (NYSE:VOYG) Shares Gap Down – Here’s What Happened

Voyager Technologies, Inc. (NYSE:VOYG)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $37.53, but opened at $33.23. Voyager Technologies shares last traded at $32.8070, with a volume of 611,871 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on VOYG shares. Citigroup raised their price objective 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. BTIG Research assumed coverage on shares of Voyager Technologies in a research note on Thursday, June 11th. They issued a “buy” rating and a $55.00 target price for the company. Wall Street Zen upgraded Voyager Technologies from a “strong sell” rating to a “sell” rating in a report on Saturday, September 5th. Jefferies Financial Group reissued a “buy” rating and issued a $65.00 price target on shares of Voyager Technologies in a research note on Sunday, August 9th. Finally, Weiss Ratings raised Voyager Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, June 26th. Two 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 company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.20.

Voyager Technologies Stock Performance

The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of -13.73 and a beta of 4.39. The stock’s 50 day moving average price is $33.70 and its 200 day moving average price is $33.18. The company has a current ratio of 3.80, a quick ratio of 3.72 and a debt-to-equity ratio of 1.19.

Voyager Technologies (NYSE:VOYG) last released 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 return on equity of 27.31% and a negative net margin of 78.61%.The business had revenue of $52.75 million for the quarter. During the same period in the prior year, the firm posted ($1.23) EPS. Voyager Technologies’s revenue was up 15.4% compared to the same quarter last year. Analysts expect that Voyager Technologies, Inc. will post -3.48 earnings per share for the current year.

Insider Buying and Selling at Voyager Technologies

In other Voyager Technologies news, President Matthew Kuta sold 199,807 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was 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 $8,067,961.26. The trade was a 51.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 27.04% of the stock is owned by company insiders.

Hedge Funds Weigh In On Voyager Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in VOYG. Wellington Management Group LLP increased its holdings in Voyager Technologies by 39.3% during the second quarter. Wellington Management Group LLP now owns 2,307,088 shares of the company’s stock worth $74,404,000 after buying an additional 650,531 shares during the last quarter. Tema ETFs LLC lifted its stake in Voyager Technologies by 125,688.6% in the second quarter. Tema ETFs LLC now owns 1,353,485 shares of the company’s stock valued at $43,650,000 after acquiring an additional 1,352,409 shares during the last quarter. Tidal Investments LLC bought a new position in shares of Voyager Technologies in the 2nd quarter valued at about $42,593,000. Capital International Investors increased its stake in shares of Voyager Technologies by 93.4% during the 4th quarter. Capital International Investors now owns 1,033,158 shares of the company’s stock worth $27,007,000 after purchasing an additional 498,963 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Voyager Technologies by 0.5% in the 1st quarter. Janus Henderson Group PLC now owns 1,029,203 shares of the company’s stock valued at $24,073,000 after purchasing an additional 5,225 shares during the period.

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.