Innovative Solutions and Support (NASDAQ:ISSC) Lowered to Hold Rating by StockNews.com

StockNews.com cut shares of Innovative Solutions and Support (NASDAQ:ISSC) from a buy rating to a hold rating in a research report released on Thursday morning.

Innovative Solutions and Support Stock Performance

ISSC opened at $7.07 on Thursday. The stock’s 50 day simple moving average is $9.45 and its 200-day simple moving average is $7.94. The company has a current ratio of 5.22, a quick ratio of 3.02 and a debt-to-equity ratio of 0.55. The stock has a market cap of $124.04 million, a PE ratio of 18.61 and a beta of 1.03. Innovative Solutions and Support has a 1 year low of $4.91 and a 1 year high of $12.17.

Innovative Solutions and Support (NASDAQ:ISSC) last announced its quarterly earnings results on Thursday, February 13th. The aerospace company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.11). Innovative Solutions and Support had a net margin of 12.40% and a return on equity of 16.80%. The business had revenue of $15.97 million during the quarter.

Insiders Place Their Bets

In other news, major shareholder Christopher Harborne sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $10.16, for a total value of $101,600.00. Following the sale, the insider now directly owns 2,599,769 shares in the company, valued at approximately $26,413,653.04. This represents a 0.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold a total of 263,623 shares of company stock worth $2,911,665 over the last quarter. Company insiders own 3.70% of the company’s stock.

Institutional Trading of Innovative Solutions and Support

Institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC lifted its holdings in shares of Innovative Solutions and Support by 7.5% during the fourth quarter. NewEdge Advisors LLC now owns 24,475 shares of the aerospace company’s stock valued at $209,000 after acquiring an additional 1,709 shares during the period. Geode Capital Management LLC lifted its holdings in Innovative Solutions and Support by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 125,592 shares of the aerospace company’s stock valued at $1,073,000 after purchasing an additional 3,835 shares during the last quarter. Barclays PLC bought a new position in Innovative Solutions and Support during the 3rd quarter valued at about $32,000. Millennium Management LLC boosted its position in Innovative Solutions and Support by 23.1% in the fourth quarter. Millennium Management LLC now owns 26,391 shares of the aerospace company’s stock valued at $225,000 after buying an additional 4,951 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Innovative Solutions and Support by 29.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 44,040 shares of the aerospace company’s stock worth $287,000 after buying an additional 9,888 shares during the last quarter. Institutional investors and hedge funds own 28.53% of the company’s stock.

Innovative Solutions and Support Company Profile

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.