Rose Celine Investments
Equity Investor
Voyager Technologies' nearly 20% drop on a $350M convertible note offering looks excessive for a business that was always going to need substantial capital. It is fundamentally capital intensive, so if it executes this won't be its last raise. Dilution matters a lot, but it shouldn't surprise anyone here. @wealthmatica, who flagged the stock, senses a buying opportunity soon. x.comÂ
Voyager Technologies is a space company in the right sector at the right time, with a growing, mostly government backlog of $275M. Revenue is very small against its $2B market cap and the company burns cash, but $429M of cash against a $67M quarterly burn implies 2-3 years of runway before it would urgently need to raise capital. It was not a favorite in earlier space research, but the stock is breaking out of a wedge that looks good to the mid-$40s as a swing trade. x.comÂ
Voyager Technologies looks particularly interesting as a picks-and-shovels supplier to the space economy. At a $1.5B market cap, it builds propulsion, missile defense, spacecraft electronics, space intelligence and agentic AI, stations, lunar infrastructure and orbital computing; it partners with Palantir and Anduril. Rocket Lab, AST SpaceMobile and Voyager could be like Apple, Microsoft and Intel in the 1980s: their value in two decades matters more than in two years. x.comÂ
Voyager Technologies likely faces more downside because its ownership, balance sheet and profitability are weak. It has no insider ownership, a 23% short float and no surplus cash relative to debt, and is unlikely to be profitable for at least two to three years, though revenue growth ahead looks good. x.comÂ
Voyager Technologies is a cheap picks-and-shovels play on the new space economy through its propulsion and electronic systems. It grew 54% in Q1 and trades at only about 4x forward sales with over 50% growth, one of the cheapest space plays, and a recent acquisition should expand its space presence. It is a smaller speculative position whose story could just be starting if the space theme works out. x.comÂ
Voyager Technologies is a real defense business hiding behind a space station narrative. A convertible debt ceiling that most retail investors do not see coming is a risk to watch, and a very specific entry trigger is still pending. x.comÂ
Voyager Technologies should be down more after NASA signaled that current commercial low-Earth-orbit station plans will not work. NASA said the projects are too hard for companies like Vast and Voyager, that it lacks the money to fund them, and that no commercial market exists to support them. x.com x.comÂ
Voyager Technologies is mispriced even more deeply than Wedbush suggests. Per Wedbush, which started coverage at Outperform with a $46 target, the market treats Voyager as a single space-station story when it is two: a profitable defense technology platform with record backlog tied to Golden Dome missile defense, and the commercial transition of low Earth orbit. Golden Dome procurement moves faster than legacy defense, first-mover data contracts compound, and the LEO business is a free option. … Show more
Voyager Technologies' CEO looks set to hand shareholders easy gains. x.comÂ
Viking Therapeutics selling shares at $35 caps its upside; it should accept a buyout at double that price instead. It priced 7.85 million shares at $35 alongside $225 million of 2% convertible notes due 2032, after upsizing both offerings from $200 million. x.comÂ
Intuitive Machines and Voyager probably offer the best risk-reward among space stocks when market caps are compared excluding SpaceX. Firefly Aerospace is only worth it if, and that is a big if, it figures out launch. x.comÂ
