Voyager Technologies (NYSE:VOYG) Stock Gets Price Target Reduction from Citigroup

Key Points

• Citigroup lowered its price target on Voyager Technologies to $41 from $54 but maintained a Buy rating, implying 46.8% upside from the stock’s then-current price.
• Analyst views are mixed: MarketBeat’s consensus is Moderate Buy with a $41.90 average target, while some firms have downgraded the stock or issued lower targets.
• Voyager’s latest quarterly loss per share was $0.87, slightly worse than estimates, although revenue rose 124.1% year over year to $88.72 million.

Voyager Technologies (NYSE:VOYG - Get Free Report) had its price objective dropped by stock analysts at Citigroup from $54.00 to $41.00 in a report released on Tuesday, Benzinga reports. The firm presently has a "buy" rating on the stock. Citigroup's price objective suggests a potential upside of 46.83% from the stock's current price.

Several other analysts also recently issued reports on VOYG. Weiss Ratings downgraded Voyager Technologies from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, October 6th. Morgan Stanley reduced their price objective on Voyager Technologies from $37.00 to $36.00 and set an "underweight" rating for the company in a research report on Friday, October 16th. Jefferies Financial Group reiterated a "buy" rating and set a $55.00 price objective on shares of Voyager Technologies in a report on Tuesday, October 6th. KeyCorp dropped their target price on Voyager Technologies from $50.00 to $40.00 and set an "overweight" rating on the stock in a research report on Monday, November 2nd. Finally, Wall Street Zen cut Voyager Technologies from a "sell" rating to a "strong sell" rating in a research note on Sunday, November 1st. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $41.90.

Voyager Technologies Stock Up 0.1%

VOYG traded up $0.02 during trading on Tuesday, reaching $27.92. The company had a trading volume of 563,928 shares, compared to its average volume of 1,893,635. The company has a market cap of $1.57 billion, a P/E ratio of -9.42 and a beta of 4.49. Voyager Technologies has a 12 month low of $17.41 and a 12 month high of $52.40. The company has a debt-to-equity ratio of 2.28, a current ratio of 2.93 and a quick ratio of 3.72. The business's fifty day moving average price is $29.57 and its 200 day moving average price is $31.51.

Voyager Technologies (NYSE:VOYG - Get Free Report) last issued its quarterly earnings data on Monday, November 2nd. The company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.02). The company had revenue of $88.72 million for the quarter. Voyager Technologies had a negative return on equity of 42.47% and a negative net margin of 78.96%. The firm's quarterly revenue was up 124.1% compared to the same quarter last year. During the same period last year, the company earned ($0.28) earnings per share. Equities analysts anticipate that Voyager Technologies will post -3.37 EPS for the current year.

Hedge Funds Weigh In On Voyager Technologies

Several hedge funds have recently modified their holdings of VOYG. Voya Investment Management LLC increased its position in shares of Voyager Technologies by 14.5% in the third quarter. Voya Investment Management LLC now owns 1,205,461 shares of the company's stock valued at $36,465,000 after acquiring an additional 152,455 shares during the last quarter. Allworth Financial LP boosted its position in Voyager Technologies by 632.9% during the third quarter. Allworth Financial LP now owns 3,474 shares of the company's stock valued at $112,000 after purchasing an additional 3,000 shares during the last quarter. Fulcrum Asset Management LLP bought a new position in Voyager Technologies in the third quarter valued at approximately $28,000. J. Derek Lewis & Associates Inc. bought a new position in Voyager Technologies in the third quarter valued at approximately $212,000. Finally, Pictet Asset Management Holding SA acquired a new position in shares of Voyager Technologies during the 3rd quarter worth approximately $221,000.

About Voyager Technologies

Voyager Technologies is a space and defense technology company that develops and provides products and services for government and commercial customers. Its work spans national security, space infrastructure and exploration, including technologies and mission support for activities in orbit. Through its space business, Voyager provides services such as payload integration and deployment, research support and access to the International Space Station. Its Nanoracks business has supported commercial use of the station, including through the Bishop Airlock.

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