Voyager Technologies (NYSE:VOYG) Shares Gap Down - What's Next?

Key Points

• Voyager Technologies shares fell 14.3%, opening at $33.23 versus the prior close of $37.53 and later trading near $32.81.
• Despite the selloff, analysts maintain a “Moderate Buy” consensus with an average price target of $45.20; individual targets range from $46 to $65.
• The company reported $52.75 million in quarterly revenue, up 15.4% year over year, and narrowed its loss to $0.70 per share, but remains unprofitable with a negative net margin of 78.61%; its president also sold 199,807 shares under a pre-arranged trading plan.

Voyager Technologies, Inc. (NYSE:VOYG - Get Free Report)'s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $37.53, but opened at $33.23. Voyager Technologies shares last traded at $32.8070, with a volume of 611,871 shares trading hands.

Wall Street Analyst Weigh In

VOYG has been the topic of several recent analyst reports. Citigroup boosted their target price on shares of Voyager Technologies from $44.00 to $54.00 and gave the company a "buy" rating in a research note on Thursday, August 13th. Wedbush started coverage on shares of Voyager Technologies in a report on Wednesday, July 1st. They set an "outperform" rating and a $46.00 price target for the company. Jefferies Financial Group restated a "buy" rating and issued a $65.00 price target on shares of Voyager Technologies in a research report on Sunday, August 9th. Wall Street Zen raised shares of Voyager Technologies from a "strong sell" rating to a "sell" rating in a report on Saturday, September 5th. Finally, BTIG Research began coverage on shares of Voyager Technologies in a research note on Thursday, June 11th. They issued a "buy" rating and a $55.00 target price for the company. Two investment 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 stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $45.20.

Voyager Technologies Trading Down 14.3%

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 $1.87 billion, a P/E ratio of -13.73 and a beta of 4.39. The business's fifty day simple moving average is $33.70 and its 200 day simple moving average is $33.18.

Voyager Technologies (NYSE:VOYG - Get Free Report) last announced its earnings results on Monday, August 3rd. The company reported ($0.70) earnings per share (EPS) for the quarter, topping 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 company had revenue of $52.75 million for the quarter. During the same quarter in the previous year, the company posted ($1.23) earnings per share. Voyager Technologies's revenue for the quarter was up 15.4% on a year-over-year basis. As a group, analysts expect that Voyager Technologies, Inc. will post -3.48 EPS for the current year.

Insider Buying and Selling at Voyager Technologies

In other news, President Matthew Kuta sold 199,807 shares of the business's stock in a transaction 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 sale, the president owned 187,758 shares in the company, valued at $8,067,961.26. The trade was a 51.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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 insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its stake in shares of Voyager Technologies by 39.3% during the second quarter. Wellington Management Group LLP now owns 2,307,088 shares of the company's stock worth $74,404,000 after purchasing an additional 650,531 shares during the period. Tema ETFs LLC increased its stake in Voyager Technologies by 125,688.6% in the second quarter. Tema ETFs LLC now owns 1,353,485 shares of the company's stock valued at $43,650,000 after purchasing an additional 1,352,409 shares in the last quarter. Tidal Investments LLC bought a new position in shares of Voyager Technologies during the second quarter worth $42,593,000. Capital International Investors grew its position in shares of Voyager Technologies by 93.4% in the 4th quarter. Capital International Investors now owns 1,033,158 shares of the company's stock valued at $27,007,000 after purchasing an additional 498,963 shares during the period. Finally, Janus Henderson Group PLC increased its stake in Voyager Technologies by 0.5% during the 1st quarter. Janus Henderson Group PLC now owns 1,029,203 shares of the company's stock worth $24,073,000 after purchasing an additional 5,225 shares in the last quarter.

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.

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