Voyager Technologies (NYSE:VOYG) Trading Down 7.7% – Here’s Why

Shares of Voyager Technologies, Inc. (NYSE:VOYG) were down 7.7% on Tuesday . The company traded as low as $25.25 and last traded at $25.7940. Approximately 213,863 shares changed hands during trading, a decline of 86% from the average daily volume of 1,578,673 shares. The stock had previously closed at $27.95.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on VOYG. Morgan Stanley set a $39.00 price objective on Voyager Technologies in a research report on Friday, January 16th. Weiss Ratings reissued a “sell (d)” rating on shares of Voyager Technologies in a report on Wednesday, January 21st. Zacks Research downgraded shares of Voyager Technologies from a “hold” rating to a “strong sell” rating in a research note on Monday, March 9th. Wedbush reissued an “outperform” rating and issued a $46.00 price objective on shares of Voyager Technologies in a research note on Friday, March 13th. Finally, JPMorgan Chase & Co. began coverage on Voyager Technologies in a research report on Monday, November 24th. They set an “overweight” rating and a $43.00 target price for the company. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Voyager Technologies currently has a consensus rating of “Hold” and a consensus target price of $44.88.

Voyager Technologies Trading Down 9.3%

The company has a market cap of $1.35 billion and a P/E ratio of -5.86. The firm has a 50-day moving average of $29.16 and a 200 day moving average of $28.29. The company has a current ratio of 4.37, a quick ratio of 4.34 and a debt-to-equity ratio of 1.04.

Voyager Technologies (NYSE:VOYG) last posted its quarterly earnings results on Monday, March 9th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.01). Voyager Technologies had a negative return on equity of 23.35% and a negative net margin of 62.98%.The business had revenue of $46.65 million for the quarter. The company’s revenue was up 23.7% compared to the same quarter last year.

Hedge Funds Weigh In On Voyager Technologies

Several institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Voyager Technologies in the second quarter valued at about $13,738,000. Cooper Creek Partners Management LLC bought a new position in Voyager Technologies during the second quarter valued at $12,184,000. Compass Wealth Management LLC purchased a new stake in Voyager Technologies in the third quarter worth $2,318,000. HBK Investments L P purchased a new position in shares of Voyager Technologies during the 2nd quarter valued at $687,000. Finally, Federated Hermes Inc. bought a new position in shares of Voyager Technologies during the 2nd quarter worth $15,347,000.

Voyager Technologies Company Profile

We are an innovation-driven defense technology and space solutions company. Our company was purpose-built to address issues at the forefront of defense, national security and space industries and we have organized our business to reflect this goal. We strive to solve complex challenges to fortify national security, protect critical assets and unlock new frontiers for human progress and economic development. We are committed to developing and delivering an array of transformative, mission-critical solutions to customers enabled by our advanced technology, analytics and space infrastructure capabilities.