Innovative Solutions and Support (NASDAQ:ISSC) Upgraded by StockNews.com to Buy Rating

Innovative Solutions and Support (NASDAQ:ISSC) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Monday.

Innovative Solutions and Support Stock Performance

NASDAQ ISSC traded down $1.96 during trading hours on Monday, hitting $8.63. The company had a trading volume of 1,442,607 shares, compared to its average volume of 267,534. The company has a quick ratio of 3.02, a current ratio of 4.77 and a debt-to-equity ratio of 0.60. The firm has a market cap of $151.37 million, a P/E ratio of 21.58 and a beta of 1.03. Innovative Solutions and Support has a fifty-two week low of $4.91 and a fifty-two week high of $12.17. The business has a fifty day simple moving average of $9.42 and a 200-day simple moving average of $7.87.

Innovative Solutions and Support (NASDAQ:ISSC) last issued its quarterly earnings data on Thursday, February 13th. The aerospace company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.11). Innovative Solutions and Support had a net margin of 14.83% and a return on equity of 18.32%. The firm had revenue of $15.97 million during the quarter.

Insider Activity at Innovative Solutions and Support

In related news, major shareholder Christopher Harborne sold 14,970 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $11.59, for a total value of $173,502.30. Following the completion of the transaction, the insider now owns 2,296,645 shares in the company, valued at $26,618,115.55. This represents a 0.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 263,623 shares of company stock worth $2,911,665 in the last three months. 3.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ISSC. James Investment Research Inc. acquired a new stake in Innovative Solutions and Support in the third quarter worth approximately $68,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Innovative Solutions and Support by 29.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 44,040 shares of the aerospace company’s stock valued at $287,000 after buying an additional 9,888 shares during the period. Pekin Hardy Strauss Inc. bought a new position in Innovative Solutions and Support during the third quarter valued at about $466,000. Corsair Capital Management L.P. bought a new stake in Innovative Solutions and Support in the third quarter worth about $155,000. Finally, Barclays PLC acquired a new stake in Innovative Solutions and Support in the 3rd quarter valued at about $32,000. 28.53% of the stock is currently owned by 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.