Innovative Solutions and Support (NASDAQ:ISSC) Stock Price Passes Above 200-Day Moving Average Following Insider Selling

Innovative Solutions and Support, Inc. (NASDAQ:ISSC - Get Free Report) crossed above its 200-day moving average during trading on Thursday after an insider bought additional shares in the company. The stock has a 200-day moving average of $8.50 and traded as high as $12.73. Innovative Solutions and Support shares last traded at $12.35, with a volume of 210,404 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Wall Street Zen upgraded Innovative Solutions and Support from a "hold" rating to a "buy" rating in a research note on Wednesday, May 21st. Singular Research upgraded shares of Innovative Solutions and Support to a "strong-buy" rating in a report on Friday, May 16th.

Innovative Solutions and Support Stock Down 1.9%

The company has a current ratio of 4.87, a quick ratio of 2.66 and a debt-to-equity ratio of 0.51. The firm's 50 day moving average price is $9.04 and its two-hundred day moving average price is $8.50. The company has a market capitalization of $217.36 million, a price-to-earnings ratio of 20.25 and a beta of 0.89.

Innovative Solutions and Support (NASDAQ:ISSC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The aerospace company reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.18. Innovative Solutions and Support had a return on equity of 24.37% and a net margin of 16.61%. The firm had revenue of $21.94 million for the quarter, compared to the consensus estimate of $15.37 million.

Hedge Funds Weigh In On Innovative Solutions and Support

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its stake in shares of Innovative Solutions and Support by 18.5% during the 4th quarter. Renaissance Technologies LLC now owns 480,659 shares of the aerospace company's stock worth $4,105,000 after buying an additional 75,100 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Innovative Solutions and Support by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 432,030 shares of the aerospace company's stock worth $3,690,000 after acquiring an additional 10,061 shares during the last quarter. Punch & Associates Investment Management Inc. boosted its holdings in shares of Innovative Solutions and Support by 68.0% during the first quarter. Punch & Associates Investment Management Inc. now owns 210,000 shares of the aerospace company's stock worth $1,321,000 after acquiring an additional 85,000 shares during the period. Isthmus Partners LLC grew its position in shares of 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 valued at $1,208,000 after purchasing an additional 1,588 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Innovative Solutions and Support in the fourth quarter valued at approximately $1,283,000. 28.53% of the stock is owned by 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.

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