Voyager Technologies (NYSE:VOYG) Shares Down 7.3% on Analyst Downgrade

Key Points

• Voyager Technologies shares fell 7.3% after Morgan Stanley downgraded the stock from equal weight to underweight and set a $39 price target. The stock traded as low as $27.23, below its prior close of $29.78.
• Despite the downgrade, analyst sentiment is still mixed-to-positive overall, with MarketBeat showing a “Moderate Buy” consensus and an average price target of $43.64. Recent coverage includes both buy and underweight calls from other firms.
• The company’s latest results showed losses but a smaller-than-expected EPS loss of $0.61 versus estimates of $0.75, on revenue of $35.25 million. Voyager also reported negative net margin and return on equity, though institutional investors have recently added to positions.

Voyager Technologies, Inc. (NYSE:VOYG - Get Free Report)'s stock price dropped 7.3% during trading on Wednesday after Morgan Stanley downgraded the stock from an equal weight rating to an underweight rating. Morgan Stanley now has a $39.00 price target on the stock. Voyager Technologies traded as low as $27.23 and last traded at $27.6190. 1,748,218 shares were traded during trading, a decline of 10% from the average daily volume of 1,941,486 shares. The stock had previously closed at $29.78.

Other equities research analysts have also issued reports about the company. Zacks Research raised Voyager Technologies from a "strong sell" rating to a "hold" rating in a research report on Wednesday, April 15th. Wells Fargo & Company assumed coverage on shares of Voyager Technologies in a report on Wednesday, April 1st. They set an "underweight" rating and a $21.00 price target for the company. 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 on the stock. Wall Street Zen downgraded shares of Voyager Technologies from a "sell" rating to a "strong sell" rating in a research report on Sunday, April 19th. Finally, TD Cowen assumed coverage on shares of Voyager Technologies in a research note on Monday, April 20th. They issued a "buy" rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Voyager Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.64.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Comerica Bank raised its position in shares of Voyager Technologies by 44,598.9% during the fourth quarter. Comerica Bank now owns 40,229 shares of the company's stock worth $1,052,000 after purchasing an additional 40,139 shares during the period. Vanderbilt University purchased a new position in Voyager Technologies in the 4th quarter worth about $3,579,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Voyager Technologies during the 4th quarter worth about $7,334,000. HB Wealth Management LLC acquired a new stake in Voyager Technologies during the 4th quarter worth about $1,169,000. Finally, Liberty Street Advisors Inc. boosted its holdings in shares of Voyager Technologies by 25.1% in the fourth quarter. Liberty Street Advisors Inc. now owns 681,748 shares of the company's stock worth $17,821,000 after buying an additional 136,925 shares during the period.

Voyager Technologies Stock Performance

The firm's fifty day simple moving average is $37.38 and its 200 day simple moving average is $31.70. The company has a debt-to-equity ratio of 1.11, a current ratio of 4.57 and a quick ratio of 4.52. The company has a market capitalization of $1.48 billion and a price-to-earnings ratio of -9.92.

Voyager Technologies (NYSE:VOYG - Get Free Report) last announced its earnings results on Monday, May 4th. The company reported ($0.61) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.75) by $0.14. The company had revenue of $35.25 million for the quarter. Voyager Technologies had a negative net margin of 72.90% and a negative return on equity of 18.42%. Voyager Technologies's quarterly revenue was up .1% on a year-over-year basis. On average, sell-side analysts forecast that Voyager Technologies, Inc. will post -3.48 EPS for the current year.

About Voyager Technologies

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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