Voyager Technologies (NYSE:VOYG) Trading 9.3% Higher – Here’s Why

Voyager Technologies, Inc. (NYSE:VOYG)’s share price rose 9.3% during mid-day trading on Wednesday . The stock traded as high as $34.63 and last traded at $35.26. Approximately 211,285 shares were traded during trading, a decline of 89% from the average daily volume of 1,960,086 shares. The stock had previously closed at $32.25.

Wall Street Analysts Forecast Growth

VOYG has been the topic of several research reports. Zacks Research upgraded shares of Voyager Technologies from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 15th. Wolfe Research reissued an “outperform” rating and issued a $55.00 target price on shares of Voyager Technologies in a research note on Wednesday, June 3rd. Jefferies Financial Group raised their price target on Voyager Technologies from $40.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Wall Street Zen cut Voyager Technologies from a “sell” rating to a “strong sell” rating in a report on Sunday, April 19th. Finally, Wells Fargo & Company initiated coverage on Voyager Technologies in a report on Wednesday, April 1st. They set an “underweight” rating and a $21.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $43.75.

Voyager Technologies Trading Up 10.1%

The firm’s 50-day simple moving average is $36.59 and its 200-day simple moving average is $31.26. The firm has a market capitalization of $1.90 billion and a PE ratio of -12.77. The company has a quick ratio of 4.52, a current ratio of 4.57 and a debt-to-equity ratio of 1.11.

Voyager Technologies (NYSE:VOYG) last released its quarterly earnings data on Monday, May 4th. The company reported ($0.61) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.14. Voyager Technologies had a negative return on equity of 18.42% and a negative net margin of 72.90%.The firm had revenue of $35.25 million for the quarter. The company’s quarterly revenue was up .1% compared to the same quarter last year. Equities analysts expect that Voyager Technologies, Inc. will post -3.48 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in VOYG. Alyeska Investment Group L.P. purchased a new position in shares of Voyager Technologies in the third quarter valued at about $54,119,000. Wellington Management Group LLP grew its stake in shares of Voyager Technologies by 653.9% in the third quarter. Wellington Management Group LLP now owns 1,631,613 shares of the company’s stock worth $48,589,000 after purchasing an additional 1,415,192 shares during the last quarter. Balyasny Asset Management L.P. purchased a new position in Voyager Technologies during the 2nd quarter valued at about $38,997,000. Senvest Management LLC increased its holdings in Voyager Technologies by 29.3% during the 4th quarter. Senvest Management LLC now owns 3,905,721 shares of the company’s stock valued at $102,096,000 after purchasing an additional 884,962 shares during the period. Finally, Alliancebernstein L.P. bought a new position in Voyager Technologies during the 2nd quarter valued at approximately $24,720,000.

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.