StockNews.com Upgrades Innovative Solutions and Support (NASDAQ:ISSC) to Buy

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

Innovative Solutions and Support Stock Performance

NASDAQ ISSC traded up $0.25 on Monday, reaching $6.90. 67,315 shares of the company’s stock traded hands, compared to its average volume of 96,939. 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 quick ratio of 3.02 and a current ratio of 5.22. The firm has a market cap of $121.06 million, a price-to-earnings ratio of 18.16 and a beta of 1.13. The stock has a 50 day moving average price of $8.86 and a 200-day moving average price of $7.94.

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

Insider Transactions at Innovative Solutions and Support

In other news, major shareholder Christopher Harborne sold 7,086 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $11.17, for a total transaction of $79,150.62. Following the sale, the insider now directly owns 2,417,771 shares of the company’s stock, valued at $27,006,502.07. This represents a 0.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 263,623 shares of company stock valued at $2,911,665 in the last 90 days. 4.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Innovative Solutions and Support

A number of hedge funds have recently bought and sold shares of ISSC. Marshall Wace LLP acquired a new position in Innovative Solutions and Support during the fourth quarter worth $1,283,000. Renaissance Technologies LLC lifted its stake in Innovative Solutions and Support by 18.5% in the 4th quarter. Renaissance Technologies LLC now owns 480,659 shares of the aerospace company’s stock valued at $4,105,000 after buying an additional 75,100 shares in the last quarter. Pekin Hardy Strauss Inc. purchased a new stake in Innovative Solutions and Support during the 3rd quarter worth approximately $466,000. Mesirow Financial Investment Management Inc. raised its holdings in shares of 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 last quarter. Finally, Ameriprise Financial Inc. purchased a new position in shares of Innovative Solutions and Support in the fourth quarter valued at approximately $389,000. Hedge funds and other institutional investors 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.