Innovative Solutions and Support (NASDAQ:ISSC) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Innovative Solutions and Support (NASDAQ:ISSC - Free Report) from a hold rating to a buy rating in a research note published on Friday morning.

Innovative Solutions and Support Stock Down 1.5 %

NASDAQ ISSC traded down $0.09 during trading hours on Friday, hitting $5.92. The company had a trading volume of 482 shares, compared to its average volume of 99,452. The firm's 50 day moving average is $7.18 and its 200 day moving average is $7.87. The company has a market capitalization of $103.87 million, a price-to-earnings ratio of 15.67 and a beta of 0.88. Innovative Solutions and Support has a fifty-two week low of $4.91 and a fifty-two week high of $12.17. 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 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 for the quarter. Innovative Solutions and Support had a return on equity of 16.80% and a net margin of 12.40%.

Insider Activity

In related news, major shareholder Christopher Harborne sold 14,970 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was 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 directly owns 2,296,645 shares of the company's stock, 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 through the SEC website. In the last three months, insiders sold 263,623 shares of company stock valued at $2,911,665. Company insiders own 4.40% of the company's stock.

Hedge Funds Weigh In On Innovative Solutions and Support

Large investors have recently made changes to their positions in the business. Marshall Wace LLP purchased a new position in Innovative Solutions and Support in the fourth quarter valued at about $1,283,000. Renaissance Technologies LLC lifted its position in Innovative Solutions and Support by 18.5% during the 4th quarter. Renaissance Technologies LLC now owns 480,659 shares of the aerospace company's stock worth $4,105,000 after acquiring an additional 75,100 shares during the last quarter. Mesirow Financial Investment Management Inc. boosted its holdings in Innovative Solutions and Support by 100.0% during the fourth quarter. Mesirow Financial Investment Management Inc. now owns 119,880 shares of the aerospace company's stock valued at $1,024,000 after acquiring an additional 59,940 shares during the period. Ameriprise Financial Inc. bought a new position in shares of Innovative Solutions and Support in the fourth quarter worth about $389,000. Finally, Virtu Financial LLC bought a new position in Innovative Solutions and Support in the 4th quarter worth approximately $339,000. 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.