Innovative Solutions and Support (NASDAQ:ISSC) Shares Pass Above 200-Day Moving Average After Insider Selling

Innovative Solutions and Support, Inc. (NASDAQ:ISSC)’s stock price crossed above its 200-day moving average during trading on Thursday following insider buying activity. The stock has a 200-day moving average of $8.50 and traded as high as $12.73. Innovative Solutions and Support shares last traded at $12.35, with a volume of 210,404 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ISSC. Singular Research raised shares of Innovative Solutions and Support to a “strong-buy” rating in a report on Friday, May 16th. Wall Street Zen raised shares of Innovative Solutions and Support from a “hold” rating to a “buy” rating in a report on Wednesday, May 21st.

Innovative Solutions and Support Stock Down 1.9%

The company has a debt-to-equity ratio of 0.51, a current ratio of 4.87 and a quick ratio of 2.66. The stock’s fifty day simple moving average is $9.04 and its 200-day simple moving average is $8.50. The stock has a market cap of $217.36 million, a P/E ratio of 20.25 and a beta of 0.89.

Innovative Solutions and Support (NASDAQ:ISSC) last released its quarterly earnings results on Wednesday, May 14th. The aerospace company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.18. The company had revenue of $21.94 million for the quarter, compared to analysts’ expectations of $15.37 million. Innovative Solutions and Support had a return on equity of 24.37% and a net margin of 16.61%.

Institutional Investors Weigh In On Innovative Solutions and Support

Hedge funds have recently made changes to their positions in the business. American Century Companies Inc. bought a new stake in shares of Innovative Solutions and Support during the first quarter valued at approximately $64,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Innovative Solutions and Support during the fourth quarter valued at approximately $89,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Innovative Solutions and Support during the fourth quarter valued at approximately $107,000. XTX Topco Ltd bought a new stake in shares of Innovative Solutions and Support during the fourth quarter valued at approximately $119,000. Finally, Sterneck Capital Management LLC acquired a new position in shares of Innovative Solutions and Support during the first quarter valued at approximately $112,000. Institutional investors own 28.53% of the company’s stock.

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.