Voyager Technologies (NYSE:VOYG) Shares Down 9.5% – Here’s What Happened

Voyager Technologies, Inc. (NYSE:VOYG)’s share price dropped 9.5% on Wednesday . The company traded as low as $23.28 and last traded at $23.2140. 315,386 shares changed hands during trading, a decline of 83% from the average daily volume of 1,903,232 shares. The stock had previously closed at $25.65.

Analysts Set New Price Targets

A number of equities analysts have weighed in on VOYG shares. JPMorgan Chase & Co. decreased their price target on shares of Voyager Technologies from $43.00 to $39.00 and set an “overweight” rating on the stock in a report on Monday, April 13th. Morgan Stanley reiterated an “underweight” rating and set a $39.00 target price on shares of Voyager Technologies in a report on Wednesday, July 15th. Wall Street Zen lowered shares of Voyager Technologies from a “sell” rating to a “strong sell” rating in a report on Sunday, April 19th. Citigroup boosted their price objective on shares of Voyager Technologies from $36.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. 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 investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.64.

Voyager Technologies Stock Down 10.1%

The stock has a market capitalization of $1.23 billion and a P/E ratio of -8.28. The company has a current ratio of 4.57, a quick ratio of 4.52 and a debt-to-equity ratio of 1.11. The stock’s 50 day simple moving average is $36.12 and its 200 day simple moving average is $31.58.

Voyager Technologies (NYSE:VOYG) last announced its quarterly earnings data on Monday, May 4th. The company reported ($0.61) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.75) by $0.14. The firm had revenue of $35.25 million for the quarter. Voyager Technologies had a negative return on equity of 18.42% and a negative net margin of 72.90%.The business’s revenue was up .1% compared to the same quarter last year. As a group, research analysts predict that Voyager Technologies, Inc. will post -3.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Voyager Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Comerica Bank lifted its holdings in Voyager Technologies by 44,598.9% in the 4th 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 last quarter. Vanderbilt University acquired a new stake in shares of Voyager Technologies in the fourth quarter worth $3,579,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Voyager Technologies during the 4th quarter worth $7,334,000. HB Wealth Management LLC acquired a new position in Voyager Technologies in the 4th quarter valued at $1,169,000. Finally, Kestra Advisory Services LLC lifted its position in Voyager Technologies by 14,088.8% during the 1st quarter. Kestra Advisory Services LLC now owns 119,612 shares of the company’s stock worth $2,798,000 after acquiring an additional 118,769 shares during the last quarter.

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.