Bank of America Corp DE Boosts Position in Voyager Technologies, Inc. $VOYG

Key Points

• Bank of America increased its Voyager Technologies stake by 66.7% in the first quarter, buying 177,842 additional shares to own 444,434 shares valued at approximately $10.4 million.
• Voyager reported quarterly revenue of $52.75 million, up 15.4% year over year, and an EPS loss of $0.70 that beat estimates. However, the company remains unprofitable, with a negative net margin of 78.61%.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $44.82 versus the stock’s reported price of $38.48. Separately, President Matthew James Kuta sold 199,807 shares under a Rule 10b5-1 plan.

Bank of America Corp DE boosted its stake in shares of Voyager Technologies, Inc. (NYSE:VOYG - Free Report) by 66.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 444,434 shares of the company's stock after purchasing an additional 177,842 shares during the period. Bank of America Corp DE owned approximately 0.83% of Voyager Technologies worth $10,395,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Federation des caisses Desjardins du Quebec acquired a new position in shares of Voyager Technologies in the fourth quarter worth about $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Voyager Technologies in the fourth quarter valued at approximately $28,000. Sunbelt Securities Inc. acquired a new position in shares of Voyager Technologies during the 4th quarter worth approximately $33,000. Ameritas Investment Partners Inc. purchased a new position in shares of Voyager Technologies during the 3rd quarter valued at approximately $34,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of Voyager Technologies during the 3rd quarter valued at approximately $35,000.

Insider Activity at Voyager Technologies

In related news, President Matthew James Kuta sold 199,807 shares of the firm's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $42.97, for a total transaction of $8,585,706.79. Following the completion of the sale, the president directly owned 187,758 shares of the company's stock, valued at approximately $8,067,961.26. This trade represents a 51.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 27.04% of the stock is currently owned by corporate insiders.

Voyager Technologies Trading Up 0.2%

NYSE:VOYG opened at $38.48 on Monday. The firm has a market cap of $2.24 billion, a P/E ratio of -16.44 and a beta of 4.19. The company has a current ratio of 3.80, a quick ratio of 3.72 and a debt-to-equity ratio of 1.19. Voyager Technologies, Inc. has a 12-month low of $17.41 and a 12-month high of $52.40. The stock's 50 day simple moving average is $33.22 and its 200-day simple moving average is $32.06.

Voyager Technologies (NYSE:VOYG - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.01) by $0.31. Voyager Technologies had a negative net margin of 78.61% and a negative return on equity of 27.31%. The business had revenue of $52.75 million during the quarter. During the same quarter in the prior year, the business earned ($1.23) EPS. The business's revenue for the quarter was up 15.4% compared to the same quarter last year. Equities analysts anticipate that Voyager Technologies, Inc. will post -3.48 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on VOYG. Wedbush initiated coverage on Voyager Technologies in a research note on Wednesday, July 1st. They set an "outperform" rating and a $46.00 price objective for the company. Wolfe Research reiterated an "outperform" rating and issued a $55.00 target price on shares of Voyager Technologies in a report on Wednesday, June 3rd. Citigroup raised their price objective 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 upgraded Voyager Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, June 26th. Finally, BTIG Research assumed coverage on shares of Voyager Technologies in a report on Thursday, June 11th. They issued a "buy" rating and a $55.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $44.82.

Voyager Technologies 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.

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