Voyager Technologies (NYSE:VOYG) Shares Gap Down Following Weak Earnings

Key Points

• Voyager Technologies' shares fell sharply from a previous close of $40.09 to open at $38.38, following a disappointing earnings report that revealed an EPS of (0.60), missing estimates by (0.33).
• The company posted a revenue of $45.67 million for the quarter, which exceeded analyst expectations of $35.44 million and represented a 24.5% increase compared to the previous year.
• Analysts have issued a mix of ratings for Voyager Technologies, with an average rating of "Moderate Buy" and a price target of $49.00 following recent coverage from multiple financial institutions.

Voyager Technologies, Inc. (NYSE:VOYG - Get Free Report)'s share price gapped down before the market opened on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $40.09, but opened at $38.38. Voyager Technologies shares last traded at $36.45, with a volume of 204,166 shares trading hands.

The company reported ($0.60) EPS for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.33). The firm had revenue of $45.67 million for the quarter, compared to analyst estimates of $35.44 million. The firm's quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.29) earnings per share.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on VOYG shares. KeyCorp started coverage on shares of Voyager Technologies in a research report on Monday, July 7th. They issued an "overweight" rating and a $50.00 price objective on the stock. Wall Street Zen upgraded shares of Voyager Technologies to a "hold" rating in a report on Tuesday, June 24th. Morgan Stanley started coverage on shares of Voyager Technologies in a report on Monday, July 7th. They set an "equal weight" rating and a $46.00 target price on the stock. Bank of America started coverage on shares of Voyager Technologies in a report on Monday, July 7th. They set a "buy" rating and a $50.00 target price on the stock. Finally, Jefferies Financial Group started coverage on shares of Voyager Technologies in a report on Monday, July 7th. They set a "buy" rating and a $50.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Voyager Technologies presently has an average rating of "Moderate Buy" and an average price target of $49.00.

Hedge Funds Weigh In On Voyager Technologies

Several institutional investors and hedge funds have recently modified their holdings of VOYG. Dakota Wealth Management acquired a new position in shares of Voyager Technologies in the second quarter valued at $2,426,000. Highline Wealth Partners LLC acquired a new position in shares of Voyager Technologies in the second quarter valued at $26,000. PFG Investments LLC acquired a new position in shares of Voyager Technologies in the second quarter valued at about $212,000. Finally, Liberty Street Advisors Inc. acquired a new position in shares of Voyager Technologies in the second quarter valued at about $21,384,000.

Voyager Technologies Price Performance

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.

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