Voyager Technologies (NYSE:VOYG) Stock Price Up 4.4% – Here’s Why

Shares of Voyager Technologies, Inc. (NYSE:VOYG) rose 4.4% during trading on Monday. The stock traded as high as $32.75 and last traded at $32.7250. 359,827 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 1,920,114 shares. The stock had previously closed at $31.35.

Analyst Ratings Changes

Several analysts have recently commented on the company. BTIG Research initiated coverage on Voyager Technologies in a report on Thursday, June 11th. They issued a “buy” rating and a $55.00 price target for the company. Jefferies Financial Group reissued a “buy” rating and issued a $65.00 target price on shares of Voyager Technologies in a research report on Sunday, August 9th. Wall Street Zen downgraded shares of Voyager Technologies from a “sell” rating to a “strong sell” rating in a report on Saturday. Weiss Ratings reissued a “sell (d-)” rating on shares of Voyager Technologies in a research note on Tuesday, September 22nd. Finally, Citigroup lifted their price objective on Voyager Technologies from $44.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $45.20.

Voyager Technologies Price Performance

The company’s 50-day simple moving average is $34.02 and its 200-day simple moving average is $33.26. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of -14.20 and a beta of 4.39. The company has a debt-to-equity ratio of 1.19, a current ratio of 3.80 and a quick ratio of 3.72.

Voyager Technologies (NYSE:VOYG) last announced its earnings results on Monday, August 3rd. The company reported ($0.70) earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter. During the same period in the prior year, the business earned ($1.23) earnings per share. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. Research analysts forecast that Voyager Technologies, Inc. will post -3.48 earnings per share for the current fiscal year.

Insider Activity

In related news, President Matthew Kuta sold 199,807 shares of the firm’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 completion of the transaction, the president owned 187,758 shares of the company’s stock, valued at $8,067,961.26. This trade represents a 51.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 27.04% of the company’s stock.

Hedge Funds Weigh In On Voyager Technologies

Several institutional investors have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC purchased a new position in shares of Voyager Technologies during the 2nd quarter worth about $46,000. Johnson Financial Group Inc. acquired a new position in Voyager Technologies in the 1st quarter worth approximately $42,000. Royal Bank of Canada lifted its holdings in shares of Voyager Technologies by 18.8% in the 1st quarter. Royal Bank of Canada now owns 3,041 shares of the company’s stock valued at $71,000 after buying an additional 481 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Voyager Technologies in the fourth quarter worth about $82,000. Finally, Ascentis Independent Advisors purchased a new position in Voyager Technologies during the first quarter valued at $105,000.

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.