KeyCorp Has Lowered Expectations for Voyager Technologies (NYSE:VOYG) Stock Price

Voyager Technologies (NYSE:VOYG) had its price objective lowered by KeyCorp from $50.00 to $40.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp‘s target price suggests a potential upside of 51.69% from the stock’s previous close.

Several other analysts also recently weighed in on the company. Wall Street Zen downgraded Voyager Technologies from a “sell” rating to a “strong sell” rating in a research note on Sunday. Citigroup increased their target price on shares of Voyager Technologies from $44.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Morgan Stanley lowered their price target on Voyager Technologies from $37.00 to $36.00 and set an “underweight” rating on the stock in a research report on Friday, October 16th. Jefferies Financial Group reiterated a “buy” rating and issued a $55.00 target price on shares of Voyager Technologies in a report on Tuesday, October 6th. Finally, Weiss Ratings cut Voyager Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, October 6th. 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 company. According to MarketBeat, Voyager Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $43.70.

Voyager Technologies Price Performance

Shares of NYSE:VOYG opened at $26.37 on Monday. The company has a market cap of $1.54 billion, a PE ratio of -11.27 and a beta of 4.49. The firm has a 50-day simple moving average of $30.93 and a 200 day simple moving average of $31.79. Voyager Technologies has a fifty-two week low of $17.41 and a fifty-two week high of $52.40. The company has a quick ratio of 3.72, a current ratio of 3.80 and a debt-to-equity ratio of 1.19.

Voyager Technologies (NYSE:VOYG) last announced its quarterly 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 quarter in the previous year, the company posted ($1.23) earnings per share. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Voyager Technologies will post -3.37 EPS for the current year.

Insider Transactions at Voyager Technologies

In other Voyager Technologies news, President Matthew Kuta sold 199,807 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $42.97, for a total transaction of $8,585,706.79. Following the completion of the sale, the president directly owned 187,758 shares of the company’s stock, valued at approximately $8,067,961.26. This represents a 51.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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

Institutional investors have recently made changes to their positions in the company. Readystate Asset Management LP raised its holdings in shares of Voyager Technologies by 1,464.5% during the second 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 during the period. The Manufacturers Life Insurance Company acquired a new position in Voyager Technologies in the 1st quarter worth approximately $565,000. Bank of America Corp DE boosted its stake in Voyager Technologies by 66.7% in the 1st quarter. Bank of America Corp DE now owns 444,434 shares of the company’s stock worth $10,395,000 after purchasing an additional 177,842 shares during the period. Tidal Investments LLC acquired a new position in Voyager Technologies in the 2nd quarter worth approximately $42,593,000. Finally, Wellington Management Group LLP grew its position in Voyager Technologies by 39.3% during the 2nd quarter. Wellington Management Group LLP now owns 2,307,088 shares of the company’s stock worth $74,404,000 after purchasing an additional 650,531 shares in the last quarter.

Voyager Technologies Company Profile

Voyager Technologies, Inc is a space and defense company that develops and operates technologies and infrastructure for commercial, civil and national security applications. Its activities span space stations, in-space infrastructure, satellite and spacecraft systems, and defense technologies designed to support government and commercial customers.

The company’s portfolio includes Starlab, a planned commercial space station being developed with international and industry partners, as well as space infrastructure and spacecraft capabilities associated with its operating businesses.