Innovative Solutions and Support (NASDAQ:ISSC) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Innovative Solutions and Support (NASDAQ:ISSC) from a hold rating to a buy rating in a report issued on Monday morning.

Innovative Solutions and Support Price Performance

Shares of NASDAQ ISSC opened at $8.59 on Monday. The company has a current ratio of 4.77, a quick ratio of 3.02 and a debt-to-equity ratio of 0.60. The stock has a market cap of $150.67 million, a price-to-earnings ratio of 22.61 and a beta of 1.03. The company’s 50-day moving average price is $9.45 and its 200 day moving average price is $7.90. Innovative Solutions and Support has a 52 week low of $4.91 and a 52 week high of $12.17.

Innovative Solutions and Support (NASDAQ:ISSC) last issued its quarterly earnings results on Thursday, February 13th. The aerospace company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.11). The firm had revenue of $15.97 million for the quarter. Innovative Solutions and Support had a return on equity of 17.19% and a net margin of 12.40%.

Insider Buying and Selling

In other news, major shareholder Christopher Harborne sold 14,970 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $11.59, for a total transaction of $173,502.30. Following the completion of the sale, the insider now directly owns 2,296,645 shares of the company’s stock, valued at $26,618,115.55. The trade was a 0.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 263,623 shares of company stock worth $2,911,665. 3.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ISSC. Millennium Management LLC grew its position in Innovative Solutions and Support by 23.1% during the fourth quarter. Millennium Management LLC now owns 26,391 shares of the aerospace company’s stock valued at $225,000 after acquiring an additional 4,951 shares during the period. Ameriprise Financial Inc. purchased a new position in shares of Innovative Solutions and Support in the 4th quarter worth about $389,000. Jane Street Group LLC purchased a new stake in shares of Innovative Solutions and Support during the 4th quarter worth about $269,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Innovative Solutions and Support during the 4th quarter worth about $89,000. Finally, Northern Trust Corp grew its holdings in shares of Innovative Solutions and Support by 32.2% during the 4th quarter. Northern Trust Corp now owns 45,043 shares of the aerospace company’s stock worth $385,000 after purchasing an additional 10,961 shares during the period. 28.53% of the stock is owned by hedge funds and other institutional investors.

About Innovative Solutions and Support

Innovative Solutions and Support, Inc, a systems integrator, designs, develops, manufactures, sells, and services flight guidance, autothrottles, and cockpit display systems in the United States and internationally. It offers flat panel display systems that replicate the display of analog or digital displays on one screen and replace existing displays in legacy aircraft, as well as used for security monitoring on-board aircraft and as tactical workstations on military aircraft; and flight deck management system, a navigation and performance computer that upgrade for commercial air transport aircraft.