KeyCorp Has Lowered Expectations for Voyager Technologies (NYSE:VOYG) Stock Price

Key Points

• KeyCorp lowered Voyager Technologies’ price target from $50 to $40 while maintaining an “overweight” rating, implying roughly 51.7% upside from the prior close.
• Analyst sentiment remains broadly positive but mixed: MarketBeat reports a “Moderate Buy” consensus and an average target price of $43.70, with targets ranging from $36 to $55.
• Voyager reported quarterly revenue of $52.75 million, up 15.4% year over year, and beat EPS expectations, but remained unprofitable; its president also sold nearly 200,000 shares worth about $8.6 million under a 10b5-1 plan.

Voyager Technologies (NYSE:VOYG - Get Free Report) had its price target reduced by KeyCorp from $50.00 to $40.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. KeyCorp's price target would suggest a potential upside of 51.69% from the company's previous close.

A number of other brokerages also recently commented on VOYG. Citigroup lifted their price target 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. TD Cowen decreased their target price on shares of Voyager Technologies from $42.00 to $36.00 and set a "buy" rating on the stock in a research report on Friday, October 9th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $55.00 target price on shares of Voyager Technologies in a research note on Tuesday, October 6th. 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. Finally, Wall Street Zen lowered Voyager Technologies from a "sell" rating to a "strong sell" rating in a research note on Sunday. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Voyager Technologies presently has an average rating of "Moderate Buy" and an average target price of $43.70.

Voyager Technologies Trading Down 0.2%

Shares of Voyager Technologies stock opened at $26.37 on Monday. The company has a 50-day moving average of $30.93 and a two-hundred day moving average of $31.79. Voyager Technologies has a 12-month low of $17.41 and a 12-month high of $52.40. The company has a current ratio of 3.80, a quick ratio of 3.72 and a debt-to-equity ratio of 1.19. The stock has a market cap of $1.54 billion, a PE ratio of -11.27 and a beta of 4.49.

Voyager Technologies (NYSE:VOYG - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($1.01) by $0.31. The business had revenue of $52.75 million for the quarter. Voyager Technologies had a negative net margin of 78.61% and a negative return on equity of 27.31%. Voyager Technologies's quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.23) earnings per share. On average, research analysts anticipate that Voyager Technologies will post -3.37 EPS for the current fiscal year.

Insider Buying and Selling at Voyager Technologies

In other news, President Matthew Kuta sold 199,807 shares of Voyager Technologies stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $42.97, for a total value of $8,585,706.79. Following the transaction, the president directly 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 SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 27.04% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Readystate Asset Management LP raised its stake in shares of Voyager Technologies by 1,464.5% during the second quarter. Readystate Asset Management LP now owns 410,251 shares of the company's stock valued at $13,231,000 after purchasing an additional 384,028 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in Voyager Technologies in the first quarter valued at $565,000. Bank of America Corp DE boosted its stake in Voyager Technologies by 66.7% during the 1st quarter. Bank of America Corp DE now owns 444,434 shares of the company's stock valued at $10,395,000 after acquiring an additional 177,842 shares during the last quarter. Tidal Investments LLC bought a new position in Voyager Technologies during the 2nd quarter valued at $42,593,000. Finally, Wellington Management Group LLP grew its holdings in Voyager Technologies by 39.3% during the 2nd quarter. Wellington Management Group LLP now owns 2,307,088 shares of the company's stock worth $74,404,000 after acquiring an additional 650,531 shares in the last quarter.

Voyager Technologies Company Profile

Voyager Technologies, Inc is a space and defense company that develops and operates technologies and infrastructure for commercial, civil and national security applications. Its activities span space stations, in-space infrastructure, satellite and spacecraft systems, and defense technologies designed to support government and commercial customers.

The company's portfolio includes Starlab, a planned commercial space station being developed with international and industry partners, as well as space infrastructure and spacecraft capabilities associated with its operating businesses.

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