Voyager Technologies (NYSE:VOYG) Sees Unusually-High Trading Volume – Still a Buy?

Voyager Technologies, Inc. (NYSE:VOYG) shares saw an uptick in trading volume on Thursday . Approximately 2,919,403 shares changed hands during mid-day trading, an increase of 54% from the previous session’s volume of 1,892,473 shares.The stock last traded at $31.1440 and had previously closed at $31.40.

Analyst Ratings Changes

Several brokerages recently commented on VOYG. Jefferies Financial Group reiterated a “buy” rating and issued a $65.00 target price on shares of Voyager Technologies in a report on Sunday, August 9th. Wedbush began coverage on shares of Voyager Technologies in a report on Wednesday, July 1st. They set an “outperform” rating and a $46.00 price target for the company. Wolfe Research reiterated an “outperform” rating and issued a $55.00 price objective on shares of Voyager Technologies in a research note on Wednesday, June 3rd. BTIG Research began coverage on Voyager Technologies in a research report on Thursday, June 11th. They set a “buy” rating and a $55.00 price objective for the company. Finally, Citigroup increased their target price on Voyager Technologies from $44.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $45.20.

Voyager Technologies Price Performance

The company has a quick ratio of 3.72, a current ratio of 3.80 and a debt-to-equity ratio of 1.19. The stock’s 50-day moving average price is $33.79 and its 200 day moving average price is $33.20. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of -13.31 and a beta of 4.39.

Voyager Technologies (NYSE:VOYG) last released its earnings results on Monday, August 3rd. The company reported ($0.70) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.01) by $0.31. Voyager Technologies had a negative return on equity of 27.31% and a negative net margin of 78.61%.The business had revenue of $52.75 million for the quarter. During the same period last year, the business earned ($1.23) earnings per share. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. Equities research analysts predict that Voyager Technologies, Inc. will post -3.48 earnings per share for the current year.

Insider Buying and Selling at Voyager Technologies

In other news, President Matthew Kuta sold 199,807 shares of Voyager Technologies stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $42.97, for a total transaction of $8,585,706.79. Following the sale, the president owned 187,758 shares of the company’s stock, valued at approximately $8,067,961.26. This trade represents a 51.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 27.04% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tidal Investments LLC acquired a new stake in Voyager Technologies during the second quarter worth $42,593,000. Archford Capital Strategies LLC acquired a new position in shares of Voyager Technologies in the 2nd quarter valued at $421,000. Integrated Wealth Concepts LLC bought a new position in shares of Voyager Technologies during the 2nd quarter worth about $46,000. Readystate Asset Management LP boosted its position in shares of Voyager Technologies by 1,464.5% during the 2nd quarter. Readystate Asset Management LP now owns 410,251 shares of the company’s stock valued at $13,231,000 after acquiring an additional 384,028 shares in the last quarter. Finally, HB Wealth Management LLC boosted its position in shares of Voyager Technologies by 1.0% during the 2nd quarter. HB Wealth Management LLC now owns 45,567 shares of the company’s stock valued at $1,470,000 after acquiring an additional 471 shares in the last quarter.

About Voyager Technologies

Voyager Technologies, Inc is a space and defense company that develops and delivers technologies and services for commercial, civil and national-security customers. Its activities span space infrastructure, in-space transportation and services, defense systems, and technologies supporting human spaceflight and exploration.

The company is associated with Nanoracks, which provides commercial access to space and in-orbit payload and infrastructure services, and Starlab Space, a joint venture focused on developing a commercial space station.