Voyager Technologies (NYSE:VOYG) Stock Falls 5.4% – Should You Sell?

Voyager Technologies, Inc. (NYSE:VOYG) shares dropped 5.4% during trading on Tuesday. The company traded as low as $31.36 and last traded at $31.3750. Approximately 1,307,920 shares were traded during mid-day trading, a decline of 32% from the average daily volume of 1,930,736 shares. The stock had previously closed at $33.18.

Trending Headlines about Voyager Technologies

Here are the key news stories impacting Voyager Technologies this week:

• Positive Sentiment: Anduril defense partnership: Voyager and Anduril will work together to accelerate the development, testing and production of advanced weapon systems, missile-defense technologies and related propulsion programs. The agreement strengthens Voyager’s position in the defense market and could create future contract and revenue opportunities, although financial terms were not disclosed. Voyager Technologies, Anduril Launch Partnership for Weapons, Missile Projects
• Positive Sentiment: Strategic validation: The collaboration with a prominent defense-technology company may improve Voyager’s credibility with government and defense customers and support its growth in high-priority weapons and missile programs. Anduril and Voyager Establish Strategic Partnership Across Advanced Weapons and Propulsion
• Neutral Sentiment: Additional capital raised: Voyager completed a private offering of $402.5 million of 0% convertible senior notes due 2032, providing substantial funding for operations, development and expansion without cash interest expense. Voyager Technologies Completes $402.5 Million Convertible Senior Notes Offering
• Negative Sentiment: Potential dilution: Because the financing consists of convertible notes, future conversion could increase Voyager’s share count and dilute existing shareholders. The transaction also adds long-term obligations, making the financing a possible counterweight to the positive partnership news. Voyager Technologies Concludes $402.5 Million Convertible Senior Notes Offering

Analyst Ratings Changes

Several brokerages recently issued reports on VOYG. Jefferies Financial Group reiterated a “buy” rating and issued a $65.00 target price on shares of Voyager Technologies in a research note on Sunday, August 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Voyager Technologies in a research note on Tuesday, September 22nd. Citigroup raised their price objective on Voyager Technologies from $44.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Wolfe Research reiterated an “outperform” rating and set a $55.00 target price on shares of Voyager Technologies in a research note on Wednesday, June 3rd. Finally, Wedbush assumed coverage on Voyager Technologies in a research note on Wednesday, July 1st. They issued an “outperform” rating and a $46.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Voyager Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $45.20.

Voyager Technologies Price Performance

The company has a current ratio of 3.80, a quick ratio of 3.72 and a debt-to-equity ratio of 1.19. The company has a 50 day moving average of $34.18 and a 200-day moving average of $33.30. The firm has a market capitalization of $1.82 billion, a P/E ratio of -13.35 and a beta of 4.39.

Voyager Technologies (NYSE:VOYG) last posted 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 company had revenue of $52.75 million during the quarter. During the same period in the prior year, the business posted ($1.23) EPS. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. On average, sell-side analysts predict that Voyager Technologies, Inc. will post -3.48 EPS 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 shares were sold at an average price of $42.97, for a total value of $8,585,706.79. Following the completion of the sale, the president directly owned 187,758 shares in the company, valued at approximately $8,067,961.26. The trade was a 51.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 27.04% of the company’s stock.

Institutional Trading of Voyager Technologies

A number of institutional investors have recently modified their holdings of VOYG. Johnson Financial Group Inc. bought a new position in shares of Voyager Technologies in the first quarter worth $42,000. Integrated Wealth Concepts LLC acquired a new position in shares of Voyager Technologies in the 2nd quarter valued at approximately $46,000. Royal Bank of Canada lifted its holdings in shares of Voyager Technologies by 18.8% during the 1st quarter. Royal Bank of Canada now owns 3,041 shares of the company’s stock worth $71,000 after acquiring an additional 481 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Voyager Technologies in the fourth quarter valued at approximately $82,000. Finally, Ascentis Independent Advisors acquired a new position in Voyager Technologies during the first quarter valued at approximately $105,000.

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.