Voyager Technologies (NYSE:VOYG) Share Price Crosses Above 50-Day Moving Average Following Analyst Downgrade

Voyager Technologies, Inc. (NYSE:VOYG)’s share price passed above its 50 day moving average during trading on Wednesday after Wall Street Zen upgraded the stock from a strong sell rating to a sell rating. The stock has a 50 day moving average of $29.41 and traded as high as $30.69. Voyager Technologies shares last traded at $29.51, with a volume of 1,459,977 shares trading hands.

VOYG has been the topic of a number of other reports. Morgan Stanley dropped their target price on shares of Voyager Technologies from $37.00 to $36.00 and set an “underweight” rating on the stock in a report on Friday, October 16th. Citigroup lifted their target price on shares of Voyager Technologies from $44.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Weiss Ratings lowered shares of Voyager Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, October 6th. TD Cowen lowered their price target on shares of Voyager Technologies from $42.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, October 9th. Finally, Wedbush began coverage on shares of Voyager Technologies in a research report on Wednesday, July 1st. They set an “outperform” rating and a $46.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.90.

Hedge Funds Weigh In On Voyager Technologies

A number of institutional investors have recently added to or reduced their stakes in VOYG. Wellington Management Group LLP raised its position in Voyager Technologies by 39.3% in the second quarter. Wellington Management Group LLP now owns 2,307,088 shares of the company’s stock valued at $74,404,000 after purchasing an additional 650,531 shares during the last quarter. Tema ETFs LLC raised its position in Voyager Technologies by 125,688.6% during the 2nd quarter. Tema ETFs LLC now owns 1,353,485 shares of the company’s stock worth $43,650,000 after purchasing an additional 1,352,409 shares during the last quarter. Tidal Investments LLC acquired a new position in Voyager Technologies during the 2nd quarter worth about $42,593,000. Voya Investment Management LLC boosted its holdings in Voyager Technologies by 14.5% in the third quarter. Voya Investment Management LLC now owns 1,205,461 shares of the company’s stock valued at $36,465,000 after acquiring an additional 152,455 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Voyager Technologies in the 3rd quarter valued at $27,820,000.

Voyager Technologies Stock Performance

The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of -9.94 and a beta of 4.49. The stock has a fifty day simple moving average of $29.41 and a two-hundred day simple moving average of $31.45. The company has a debt-to-equity ratio of 2.28, a quick ratio of 2.88 and a current ratio of 2.93.

Voyager Technologies (NYSE:VOYG) last issued its quarterly earnings results on Monday, November 2nd. The company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.02). The business had revenue of $88.72 million during the quarter. Voyager Technologies had a negative net margin of 78.96% and a negative return on equity of 42.47%. The business’s revenue for the quarter was up 124.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.28) earnings per share. Analysts forecast that Voyager Technologies, Inc. will post -3.30 earnings per share for the current fiscal year.

Voyager Technologies Company Profile

Voyager Technologies is a space and defense technology company that develops and provides products and services for government and commercial customers. Its work spans national security, space infrastructure and exploration, including technologies and mission support for activities in orbit. Through its space business, Voyager provides services such as payload integration and deployment, research support and access to the International Space Station. Its Nanoracks business has supported commercial use of the station, including through the Bishop Airlock.