Voyager Technologies (NYSE:VOYG) Trading Up 6.4% - Here's Why

Key Points

• Voyager Technologies shares rose 6.4% to about $35.20, although trading volume was 67% below the average daily level.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $45.20; recent targets range from $37 to $55.
• The company beat quarterly EPS estimates and reported 15.4% year-over-year revenue growth, but remains unprofitable, with a negative net margin of 78.61% and projected full-year EPS of -$3.48.

Voyager Technologies, Inc. (NYSE:VOYG - Get Free Report) shares traded up 6.4% on Tuesday . The stock traded as high as $34.86 and last traded at $35.2020. 607,404 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 1,824,058 shares. The stock had previously closed at $33.10.

Analyst Ratings Changes

VOYG has been the topic of a number of recent analyst reports. Wolfe Research reaffirmed an "outperform" rating and set a $55.00 price target on shares of Voyager Technologies in a research report on Wednesday, June 3rd. Morgan Stanley restated an "underweight" rating and set a $37.00 target price on shares of Voyager Technologies in a research note on Wednesday, August 5th. Wedbush started coverage on Voyager Technologies in a research report on Wednesday, July 1st. They set an "outperform" rating and a $46.00 target price on the stock. Citigroup increased their price target on Voyager Technologies from $44.00 to $54.00 and gave the company a "buy" rating in a research note on Thursday, August 13th. Finally, Wall Street Zen raised shares of Voyager Technologies from a "strong sell" rating to a "sell" rating in a research report on Saturday, September 5th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Voyager Technologies has an average rating of "Moderate Buy" and a consensus target price of $45.20.

Voyager Technologies Stock Performance

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 firm has a 50-day moving average of $33.13 and a 200-day moving average of $32.83. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of -14.72 and a beta of 4.39.

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

Insider Buying and Selling

In related news, President Matthew Kuta sold 199,807 shares of the 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 transaction, the president owned 187,758 shares in the company, valued at approximately $8,067,961.26. This represents a 51.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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.

Institutional Trading of Voyager Technologies

Several large investors have recently made changes to their positions in VOYG. Tidal Investments LLC acquired a new stake in Voyager Technologies during the second quarter worth about $42,593,000. Archford Capital Strategies LLC purchased a new stake in Voyager Technologies in the 2nd quarter worth approximately $421,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Voyager Technologies during the 2nd quarter worth approximately $46,000. Readystate Asset Management LP increased its holdings in shares of Voyager Technologies by 1,464.5% during the 2nd 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 in the last quarter. Finally, HB Wealth Management LLC lifted its stake in shares of Voyager Technologies by 1.0% in the 2nd quarter. HB Wealth Management LLC now owns 45,567 shares of the company's stock valued at $1,470,000 after purchasing an additional 471 shares during the period.

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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