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

Innovative Solutions and Support, Inc. (NASDAQ:ISSC)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.95 and traded as high as $7.99. Innovative Solutions and Support shares last traded at $7.45, with a volume of 338,527 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Innovative Solutions and Support from a “hold” rating to a “buy” rating in a research report on Monday, February 17th.

Innovative Solutions and Support Price Performance

The firm has a market cap of $130.71 million, a price-to-earnings ratio of 19.61 and a beta of 1.03. The company’s fifty day moving average is $9.47 and its 200 day moving average is $7.95. The company has a quick ratio of 3.02, a current ratio of 5.22 and a debt-to-equity ratio of 0.55.

Innovative Solutions and Support (NASDAQ:ISSC) last announced its quarterly earnings data on Thursday, February 13th. The aerospace company reported $0.04 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 firm had revenue of $15.97 million during the quarter.

Insider Activity

In other Innovative Solutions and Support news, major shareholder Christopher Harborne sold 98,600 shares of Innovative Solutions and Support stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $10.82, for a total value of $1,066,852.00. Following the completion of the sale, the insider now owns 2,501,169 shares in the company, valued at $27,062,648.58. The trade was a 3.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 263,623 shares of company stock valued at $2,911,665 over the last ninety days. 3.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ISSC. NewEdge Advisors LLC raised its stake in Innovative Solutions and Support by 7.5% in the fourth quarter. NewEdge Advisors LLC now owns 24,475 shares of the aerospace company’s stock valued at $209,000 after purchasing an additional 1,709 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Innovative Solutions and Support by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 125,592 shares of the aerospace company’s stock valued at $1,073,000 after acquiring an additional 3,835 shares during the last quarter. Barclays PLC bought a new stake in Innovative Solutions and Support during the third quarter valued at $32,000. Millennium Management LLC increased its holdings in Innovative Solutions and Support by 23.1% in the fourth quarter. Millennium Management LLC now owns 26,391 shares of the aerospace company’s stock worth $225,000 after purchasing an additional 4,951 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Innovative Solutions and Support by 29.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 44,040 shares of the aerospace company’s stock valued at $287,000 after purchasing an additional 9,888 shares in the last quarter. 28.53% of the stock is owned by institutional investors.

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.