Innovative Solutions and Support (NASDAQ:ISSC) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Innovative Solutions and Support (NASDAQ:ISSC) from a buy rating to a hold rating in a report published on Thursday morning.

Innovative Solutions and Support Stock Down 6.1 %

ISSC opened at $5.72 on Thursday. The business’s fifty day simple moving average is $8.17 and its 200 day simple moving average is $7.91. Innovative Solutions and Support has a 52 week low of $4.91 and a 52 week high of $12.17. The firm has a market cap of $100.36 million, a P/E ratio of 15.05 and a beta of 1.13. 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 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 Buying and Selling at Innovative Solutions and Support

In other Innovative Solutions and Support news, major shareholder Christopher Harborne sold 10,000 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $10.16, for a total value of $101,600.00. Following the sale, the insider now directly owns 2,599,769 shares of the company’s stock, valued at approximately $26,413,653.04. This trade represents a 0.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 263,623 shares of company stock worth $2,911,665. Insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Millennium Management LLC grew 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 valued at $225,000 after purchasing an additional 4,951 shares during the period. Ameriprise Financial Inc. purchased a new stake in shares of Innovative Solutions and Support during the 4th quarter valued at $389,000. Jane Street Group LLC purchased a new position in shares of Innovative Solutions and Support in the 4th quarter worth $269,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Innovative Solutions and Support in the 4th quarter worth $89,000. Finally, Northern Trust Corp boosted its holdings in Innovative Solutions and Support by 32.2% in the fourth quarter. Northern Trust Corp now owns 45,043 shares of the aerospace company’s stock valued at $385,000 after acquiring an additional 10,961 shares during the last quarter. 28.53% of the stock is currently 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.