Voyager Technologies (NYSE:VOYG) Trading Down 5.5% - Here's What Happened

Key Points

• Voyager Technologies' share price fell 5.5% to $29.11 during trading on Monday, significantly below its previous close of $30.80.
• Analysts have mixed ratings for the stock, with one sell rating, two hold ratings, and five buy ratings, resulting in an average rating of "Moderate Buy" and a target price of $49.00.
• The company reported a loss of ($0.60) earnings per share for the last quarter, missing expectations but achieving a 24.5% year-over-year revenue increase.

Voyager Technologies, Inc. (NYSE:VOYG - Get Free Report)'s share price traded down 5.5% during trading on Monday . The stock traded as low as $29.00 and last traded at $29.11. 668,494 shares were traded during trading, a decline of 58% from the average session volume of 1,580,716 shares. The stock had previously closed at $30.80.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Barclays assumed coverage on Voyager Technologies in a research report on Monday, July 7th. They set an "equal weight" rating and a $45.00 target price for the company. Wolfe Research initiated coverage on Voyager Technologies in a research report on Monday, July 7th. They set an "outperform" rating and a $50.00 target price for the company. Wall Street Zen downgraded Voyager Technologies from a "hold" rating to a "sell" rating in a research report on Saturday. Bank of America initiated coverage on Voyager Technologies in a research report on Monday, July 7th. They issued a "buy" rating and a $50.00 price objective for the company. Finally, KeyCorp initiated coverage on Voyager Technologies in a research report on Monday, July 7th. They set an "overweight" rating and a $50.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Voyager Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $49.00.

Voyager Technologies Stock Down 4.6%

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of VOYG. Dakota Wealth Management bought a new stake in Voyager Technologies during the second quarter worth about $2,426,000. Highline Wealth Partners LLC bought a new stake in Voyager Technologies in the second quarter valued at approximately $26,000. PFG Investments LLC bought a new position in shares of Voyager Technologies during the second quarter worth approximately $212,000. Liberty Street Advisors Inc. bought a new position in shares of Voyager Technologies during the second quarter worth approximately $21,384,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Voyager Technologies during the second quarter worth approximately $274,000.

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.

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