Small-cap stock %VoyagerTechnologies (NYSE: $VOYG) has held a successful initial public offering (IPO) in what was widely viewed as a test of market demand for high-flying space companies.
Voyager’s shares began trading June 11 on the New York Stock Exchange under the ticker symbol “VOYG.”
The defense and space technology company priced its shares at $31 U.S., above the original range of $26 U.S. to $29 U.S.
The stock finished its first trading day at $56.50 U.S, which was 82% higher than the offering price.
Voyager counts %Palantir Technologies (NASDAQ: $PLTR) and %LockheedMartin (NYSE: $LMT) among its biggest backers, and the U.S. Air Force and NASA as customers.
Management at Voyager raised the size of the stock sale from 11 million shares initially to 12.35 million due to strong demand.
At the $31 U.S. IPO price, Voyager has a market capitalization of $3.80 billion U.S., making it a small-cap stock defined as any security valued at less than $10 billion U.S.
The company raised $382.8 million U.S. from its IPO, which is viewed as a success.
The listing of VOYG stock comes a few weeks after the blockbuster IPOs of stablecoin issuer %Circle (NYSE: $CRCL) and online trading platform %eToro (NASDAQ: $ETOR).
Voyager has some strong finances underpinning its stock.
The Colorado-based company has a $217.5 million U.S. contract with NASA to help design Starlab, a commercial space station that will replace the International Space Station (ISS) when it is decommissioned in 2030.
NASA is Voyager’s largest customer, accounting for more than a quarter of the company’s $144.2 million U.S. in 2024 sales.
Management at Voyager says the company’s revenue grew 6% last year and another 14% in this year’s first quarter.
However, like many start-up companies, Voyager is not yet profitable, reporting a -$65.6 million U.S. net loss in 2024.
Heading into the IPO, analysts said that Voyager is well-positioned to take part in national security contracts and U.S. President Donald Trump’s Golden Dome missile-defense shield.
It’s still early days, but VOYG stock might be worth consideration for investors who have an appetite for risk.
