Voyager Technologies (NYSE:VOYG) Downgraded to Sell Rating by Wall Street Zen

Key Points

• Voyager Technologies has been downgraded from a "hold" rating to a "sell" rating by analysts at Wall Street Zen, indicating a bearish outlook for the stock.
• Despite the downgrade, the stock has a consensus rating of "Moderate Buy" among analysts, with an average price target of $49.00.
• Voyager Technologies reported a loss of $0.60 per share for the last quarter, missing expectations, although its revenue increased 24.5% year-over-year.

Wall Street Zen downgraded shares of Voyager Technologies (NYSE:VOYG - Free Report) from a hold rating to a sell rating in a research note published on Saturday morning.

Several other brokerages also recently commented on VOYG. JPMorgan Chase & Co. assumed coverage on Voyager Technologies in a research report on Monday, July 7th. They issued an "overweight" rating and a $52.00 price objective on the stock. Barclays assumed coverage on Voyager Technologies in a research report on Monday, July 7th. They issued an "equal weight" rating and a $45.00 price objective on the stock. Bank of America assumed coverage on Voyager Technologies in a research report on Monday, July 7th. They issued a "buy" rating and a $50.00 price objective on the stock. KeyCorp assumed coverage on Voyager Technologies in a research report on Monday, July 7th. They issued an "overweight" rating and a $50.00 price objective on the stock. Finally, Wolfe Research assumed coverage on Voyager Technologies in a research report on Monday, July 7th. They issued an "outperform" rating and a $50.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Voyager Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $49.00.

Voyager Technologies Price Performance

Shares of NYSE VOYG traded up $0.11 during trading hours on Friday, hitting $30.00. 257,164 shares of the company traded hands, compared to its average volume of 1,558,174. Voyager Technologies has a 12 month low of $28.66 and a 12 month high of $73.95.

Voyager Technologies (NYSE:VOYG - Get Free Report) last released its earnings results on Monday, August 4th. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.33). The firm had revenue of $45.67 million during the quarter, compared to analysts' expectations of $35.44 million. The business's revenue was up 24.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.29) earnings per share.

Hedge Funds Weigh In On Voyager Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. New York State Common Retirement Fund bought a new position in shares of Voyager Technologies during the 2nd quarter worth $146,000. Legal & General Group Plc bought a new position in shares of Voyager Technologies during the 2nd quarter worth $40,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Voyager Technologies during the 2nd quarter worth $28,000. Norges Bank purchased a new stake in shares of Voyager Technologies during the 2nd quarter worth $13,738,000. Finally, XTX Topco Ltd purchased a new stake in shares of Voyager Technologies during the 2nd quarter worth $395,000.

Voyager Technologies Company 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.