Voyager Technologies (NYSE:VOYG) Cut to Strong Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded Voyager Technologies to “strong sell” from “sell,” despite the stock maintaining a broader consensus rating of “Moderate Buy” and an average analyst price target of $45.20.
• Voyager reported quarterly revenue of $52.75 million, up 15.4% year over year, and an adjusted loss of $0.70 per share that beat estimates; however, it continues to post significant losses and analysts expect full-year EPS of -$3.48.
• Shares opened at $31.36, well below the 52-week high of $52.40. President Matthew Kuta sold 199,807 shares worth approximately $8.6 million under a pre-arranged trading plan, reducing his ownership by 51.55%.

Voyager Technologies (NYSE:VOYG - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "sell" rating to a "strong sell" rating in a report issued on Saturday, Wall Street Zen reports.

VOYG has been the topic of several other reports. Morgan Stanley reaffirmed an "underweight" rating and set a $37.00 target price on shares of Voyager Technologies in a report on Wednesday, August 5th. Wedbush started coverage on Voyager Technologies in a report on Wednesday, July 1st. They set an "outperform" rating and a $46.00 target price on the stock. Citigroup raised their price target on Voyager Technologies from $44.00 to $54.00 and gave the stock a "buy" rating in a research report on Thursday, August 13th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Voyager Technologies in a research note on Tuesday. Finally, Wolfe Research restated an "outperform" rating and issued a $55.00 target price on shares of Voyager Technologies in a research report on Wednesday, June 3rd. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $45.20.

Voyager Technologies Stock Performance

Shares of NYSE VOYG opened at $31.36 on Friday. The company has a debt-to-equity ratio of 1.19, a current ratio of 3.80 and a quick ratio of 3.72. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of -13.40 and a beta of 4.39. The stock's fifty day moving average price is $34.02 and its two-hundred day moving average price is $33.22. Voyager Technologies has a one year low of $17.41 and a one year high of $52.40.

Voyager Technologies (NYSE:VOYG - Get Free Report) last posted its earnings results on Monday, August 3rd. The company reported ($0.70) earnings per share for the quarter, topping 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 company had revenue of $52.75 million during the quarter. During the same period in the prior year, the business posted ($1.23) EPS. The firm's quarterly revenue was up 15.4% compared to the same quarter last year. On average, equities analysts forecast that Voyager Technologies will post -3.48 EPS for the current year.

Insiders Place Their Bets

In other Voyager Technologies news, President Matthew Kuta sold 199,807 shares of the firm's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $42.97, for a total value of $8,585,706.79. Following the sale, the president owned 187,758 shares in the company, valued at $8,067,961.26. This trade represents a 51.55% decrease in their ownership of the stock. The sale was disclosed in a filing 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 Investors Weigh In On Voyager Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. 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 during the last quarter. Tema ETFs LLC lifted its holdings in shares of Voyager Technologies by 125,688.6% during the second quarter. Tema ETFs LLC now owns 1,353,485 shares of the company's stock worth $43,650,000 after purchasing an additional 1,352,409 shares during the period. Tidal Investments LLC acquired a new position in shares of Voyager Technologies during the second quarter worth $42,593,000. Capital International Investors grew its stake in shares of Voyager Technologies by 93.4% in the fourth 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 increased its holdings in Voyager Technologies by 0.5% in the first 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.

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