Innovative Solutions and Support (NASDAQ:ISSC) Shares Pass Above 200 Day Moving Average - Here's Why

Key Points

• Innovative Solutions and Support shares surpassed their 200-day moving average, trading at $11.03 after reaching a high of $11.19 during the session.
• Wall Street Zen downgraded the company's rating from "buy" to "hold", although one analyst still rates it as a "Strong Buy."
• Revenue for the most recent quarter was reported at $24.15 million, exceeding consensus estimates, despite the company missing EPS expectations with a reported $0.14.

Innovative Solutions and Support, Inc. (NASDAQ:ISSC - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.74 and traded as high as $11.19. Innovative Solutions and Support shares last traded at $11.03, with a volume of 736,767 shares.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Innovative Solutions and Support from a "buy" rating to a "hold" rating in a report on Sunday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Strong Buy".

Innovative Solutions and Support Trading Down 1.1%

The company has a quick ratio of 1.69, a current ratio of 3.53 and a debt-to-equity ratio of 0.41. The stock has a fifty day simple moving average of $14.41 and a 200 day simple moving average of $10.74. The firm has a market capitalization of $194.46 million, a P/E ratio of 16.71 and a beta of 0.80.

Innovative Solutions and Support (NASDAQ:ISSC - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The aerospace company reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.16 by ($0.02). The business had revenue of $24.15 million for the quarter, compared to the consensus estimate of $19.20 million. Innovative Solutions and Support had a net margin of 15.10% and a return on equity of 23.86%.

Insider Buying and Selling

In other Innovative Solutions and Support news, major shareholder Christopher Harborne sold 145,009 shares of the firm's stock in a transaction dated 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 sale, the insider directly owned 1,583,411 shares of the company's stock, valued at $21,676,896.59. This trade represents a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 506,395 shares of company stock worth $6,656,714 over the last quarter. 4.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ISSC. Geode Capital Management LLC grew its position in Innovative Solutions and Support by 0.6% in the second quarter. Geode Capital Management LLC now owns 123,258 shares of the aerospace company's stock worth $1,711,000 after acquiring an additional 725 shares in the last quarter. Isthmus Partners LLC grew its position in Innovative Solutions and Support by 0.8% in the first quarter. Isthmus Partners LLC now owns 192,048 shares of the aerospace company's stock worth $1,208,000 after acquiring an additional 1,588 shares in the last quarter. J.W. Cole Advisors Inc. grew its position in Innovative Solutions and Support by 12.4% in the second quarter. J.W. Cole Advisors Inc. now owns 15,360 shares of the aerospace company's stock worth $213,000 after acquiring an additional 1,700 shares in the last quarter. HighTower Advisors LLC grew its position in Innovative Solutions and Support by 4.0% in the first quarter. HighTower Advisors LLC now owns 48,987 shares of the aerospace company's stock worth $308,000 after acquiring an additional 1,880 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Innovative Solutions and Support by 21.9% in the second quarter. American Century Companies Inc. now owns 12,386 shares of the aerospace company's stock worth $172,000 after acquiring an additional 2,228 shares in the last quarter. 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.

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