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

Innovative Solutions and Support (NASDAQ:ISSC) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

Innovative Solutions and Support Trading Up 1.0 %

Shares of NASDAQ ISSC opened at $7.14 on Thursday. The firm’s 50 day moving average price is $9.43 and its 200-day moving average price is $7.95. The company has a market cap of $125.27 million, a PE ratio of 18.79 and a beta of 1.03. Innovative Solutions and Support has a 52-week low of $4.91 and a 52-week high of $12.17. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.02 and a current ratio of 5.22.

Innovative Solutions and Support (NASDAQ:ISSC) last issued its 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). The firm had revenue of $15.97 million during the quarter. Innovative Solutions and Support had a return on equity of 16.80% and a net margin of 12.40%.

Insider Transactions at Innovative Solutions and Support

In other news, major shareholder Christopher Harborne sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $10.16, for a total transaction of $101,600.00. Following the completion of the transaction, the insider now directly owns 2,599,769 shares of the company’s stock, valued at $26,413,653.04. The trade was a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have sold 263,623 shares of company stock worth $2,911,665. Corporate insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Millennium Management LLC raised its holdings in shares of 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 purchasing an additional 4,951 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in shares of Innovative Solutions and Support during the fourth quarter valued at approximately $389,000. Jane Street Group LLC purchased a new stake in Innovative Solutions and Support during the fourth quarter valued at approximately $269,000. Schonfeld Strategic Advisors LLC purchased a new stake in Innovative Solutions and Support during the fourth quarter valued at approximately $89,000. Finally, Northern Trust Corp increased its holdings in Innovative Solutions and Support by 32.2% during the fourth quarter. Northern Trust Corp now owns 45,043 shares of the aerospace company’s stock valued at $385,000 after buying an additional 10,961 shares during the last quarter. 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.