Innovative Solutions and Support (NASDAQ:ISSC) Downgraded to Buy Rating by Wall Street Zen

Key Points

• Innovative Solutions and Support was downgraded by Wall Street Zen from a "strong-buy" to a "buy" rating.
• Despite missing earnings per share estimates, the company reported revenues of $24.15 million, surpassing analyst expectations.
• Insider Christopher Harborne sold 145,009 shares, reducing his ownership by 8.39%, while insiders collectively sold over 713,000 shares in recent months.

Wall Street Zen lowered shares of Innovative Solutions and Support (NASDAQ:ISSC - Free Report) from a strong-buy rating to a buy rating in a report released on Saturday morning.

Separately, Singular Research upgraded Innovative Solutions and Support to a "strong-buy" rating in a report on Friday, May 16th. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Strong Buy".

Innovative Solutions and Support Stock Performance

Shares of NASDAQ ISSC traded down $0.8610 during trading on Friday, hitting $13.3490. The company had a trading volume of 615,196 shares, compared to its average volume of 330,732. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.66 and a current ratio of 4.87. Innovative Solutions and Support has a 12 month low of $5.30 and a 12 month high of $20.00. The stock has a 50 day simple moving average of $14.66 and a 200 day simple moving average of $10.30. The firm has a market capitalization of $234.94 million, a P/E ratio of 20.17 and a beta of 0.97.

Innovative Solutions and Support (NASDAQ:ISSC - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The aerospace company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.02). The firm had revenue of $24.15 million for the quarter, compared to analysts' expectations of $19.20 million. Innovative Solutions and Support had a net margin of 15.10% and a return on equity of 24.77%.

Insider Activity

In related news, major shareholder Christopher Harborne sold 145,009 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $13.69, for a total transaction of $1,985,173.21. Following the completion of the sale, the insider directly owned 1,583,411 shares of the company's stock, valued at approximately $21,676,896.59. This trade represents a 8.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders sold 713,234 shares of company stock worth $9,102,691. 4.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. purchased a new position in Innovative Solutions and Support during the 1st quarter worth $64,000. Schonfeld Strategic Advisors LLC purchased a new position in Innovative Solutions and Support during the 4th quarter worth $89,000. XTX Topco Ltd purchased a new position in Innovative Solutions and Support during the 4th quarter worth $119,000. Meixler Investment Management Ltd. grew its stake in Innovative Solutions and Support by 31.4% during the 2nd quarter. Meixler Investment Management Ltd. now owns 15,275 shares of the aerospace company's stock worth $212,000 after buying an additional 3,650 shares during the last quarter. Finally, J.W. Cole Advisors Inc. grew its stake in Innovative Solutions and Support by 12.4% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 15,360 shares of the aerospace company's stock valued at $213,000 after purchasing an additional 1,700 shares during the last quarter. 28.53% of the stock is currently owned by hedge funds and other 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.