Innovative Solutions and Support (NASDAQ:ISSC) Shares Cross Above 200 Day Moving Average – Here’s Why

Innovative Solutions and Support, Inc. (NASDAQ:ISSC) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $10.91 and traded as high as $12.36. Innovative Solutions and Support shares last traded at $12.34, with a volume of 261,079 shares.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of Innovative Solutions and Support from a “buy” rating to a “hold” rating in a research note on Sunday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Strong Buy”.

Innovative Solutions and Support Price Performance

The company has a debt-to-equity ratio of 0.41, a current ratio of 3.53 and a quick ratio of 1.69. The stock has a market cap of $217.53 million, a P/E ratio of 18.70 and a beta of 0.80. The company’s 50 day simple moving average is $14.10 and its 200 day simple moving average is $10.91.

Innovative Solutions and Support (NASDAQ:ISSC) last issued its earnings results on Thursday, August 14th. The aerospace company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.02). Innovative Solutions and Support had a net margin of 15.10% and a return on equity of 23.86%. The firm had revenue of $24.15 million during the quarter, compared to the consensus estimate of $19.20 million.

Insider Buying and Selling

In other Innovative Solutions and Support news, major shareholder Christopher Harborne sold 145,009 shares of the company’s stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $13.69, for a total value of $1,985,173.21. Following the completion of the sale, the insider owned 1,583,411 shares of the company’s stock, valued at approximately $21,676,896.59. This represents a 8.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 277,175 shares of company stock valued at $3,765,161 over the last ninety days. 4.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP boosted its holdings in shares of Innovative Solutions and Support by 48.9% in the second quarter. Marshall Wace LLP now owns 289,827 shares of the aerospace company’s stock valued at $4,023,000 after buying an additional 95,178 shares during the period. Punch & Associates Investment Management Inc. boosted its holdings in shares of Innovative Solutions and Support by 68.0% in the first quarter. Punch & Associates Investment Management Inc. now owns 210,000 shares of the aerospace company’s stock valued at $1,321,000 after buying an additional 85,000 shares during the period. Isthmus Partners LLC boosted its holdings in shares of Innovative Solutions and Support by 0.8% in the first quarter. Isthmus Partners LLC now owns 192,048 shares of the aerospace company’s stock valued at $1,208,000 after buying an additional 1,588 shares during the period. Raymond James Financial Inc. boosted its holdings in shares of Innovative Solutions and Support by 104.1% in the second quarter. Raymond James Financial Inc. now owns 164,479 shares of the aerospace company’s stock valued at $2,283,000 after buying an additional 83,894 shares during the period. Finally, Man Group plc boosted its holdings in shares of Innovative Solutions and Support by 6.3% in the second quarter. Man Group plc now owns 162,936 shares of the aerospace company’s stock valued at $2,262,000 after buying an additional 9,595 shares during the period. 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.