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

Innovative Solutions and Support (NASDAQ:ISSC) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Innovative Solutions and Support Price Performance

NASDAQ ISSC traded down $0.52 during trading hours on Thursday, hitting $6.09. The company had a trading volume of 106,301 shares, compared to its average volume of 97,493. 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 capitalization of $106.85 million, a price-to-earnings ratio of 16.03 and a beta of 1.13. Innovative Solutions and Support has a 52 week low of $4.91 and a 52 week high of $12.17. The firm has a 50 day simple moving average of $8.28 and a 200 day simple moving average of $7.91.

Innovative Solutions and Support (NASDAQ:ISSC) last released 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). The firm 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 14,970 shares of Innovative Solutions and Support stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $11.59, for a total transaction of $173,502.30. Following the completion of the sale, the insider now owns 2,296,645 shares in the company, valued at approximately $26,618,115.55. This trade represents a 0.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have sold 263,623 shares of company stock valued at $2,911,665. 4.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Innovative Solutions and Support

A number of institutional investors and hedge funds have recently bought and sold shares of ISSC. Barclays PLC purchased a new position in Innovative Solutions and Support in the 3rd quarter worth approximately $32,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Innovative Solutions and Support during the 4th quarter worth $89,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Innovative Solutions and Support during the 4th quarter worth $107,000. XTX Topco Ltd purchased a new position in Innovative Solutions and Support in the fourth quarter worth $119,000. Finally, NewEdge Advisors LLC increased 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 acquiring an additional 1,709 shares during the last quarter. 28.53% of the stock is 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.