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

Innovative Solutions and Support (NASDAQ:ISSC - Get Free Report) was downgraded by stock 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 Stock Performance

Shares of ISSC stock traded down $0.44 on Thursday, hitting $6.70. 221,400 shares of the stock traded hands, compared to its average volume of 286,767. The company has a market capitalization of $117.55 million, a PE ratio of 17.63 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. The company's fifty day moving average is $9.43 and its 200 day moving average is $7.96. The company has a debt-to-equity ratio of 0.55, a current ratio of 5.22 and a quick ratio of 3.02.

Innovative Solutions and Support (NASDAQ:ISSC - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The aerospace company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $15.97 million for the quarter.

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Insider Activity at Innovative Solutions and Support

In other news, major shareholder Christopher Harborne sold 10,000 shares of the firm's stock in a transaction dated 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 owns 2,599,769 shares in the company, valued at approximately $26,413,653.04. This trade 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 263,623 shares of company stock worth $2,911,665 in the last 90 days. Corporate insiders own 3.70% of the company's stock.

Institutional Investors Weigh In On Innovative Solutions and Support

Institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC raised its stake in Innovative Solutions and Support by 23.1% during the 4th 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 period. Ameriprise Financial Inc. acquired a new stake in shares of Innovative Solutions and Support in the 4th quarter valued at $389,000. Jane Street Group LLC acquired a new stake in shares of Innovative Solutions and Support in the fourth quarter worth about $269,000. Schonfeld Strategic Advisors LLC bought a new stake in Innovative Solutions and Support during the fourth quarter worth approximately $89,000. Finally, Northern Trust Corp grew its stake in Innovative Solutions and Support by 32.2% in the 4th 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. Institutional investors and hedge funds 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.