Innovative Solutions and Support (NASDAQ:ISSC) Stock Price Breaks Above 200 Day Moving Average - Here's What Happened

Key Points

• Innovative Solutions and Support shares broke above their 200-day moving average, reaching $20.28 before closing at $19.90, compared with the 200-day average of $19.35.
• The company reported strong quarterly results, with EPS of $0.33 versus the $0.22 analyst consensus and revenue of $26.73 million, ahead of estimates of $23.98 million.
• Institutional interest increased as several funds initiated positions, including Punch & Associates’ stake valued at approximately $10.26 million; institutions now own 28.53% of the stock.

Innovative Solutions and Support, Inc. (NASDAQ:ISSC - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $19.35 and traded as high as $20.28. Innovative Solutions and Support shares last traded at $19.90, with a volume of 355,256 shares changing hands.

Innovative Solutions and Support Stock Performance

The firm has a market cap of $356.07 million, a PE ratio of 18.95 and a beta of 0.59. The company has a quick ratio of 1.49, a current ratio of 2.97 and a debt-to-equity ratio of 0.63. The company has a 50-day simple moving average of $19.74 and a two-hundred day simple moving average of $19.35.

Innovative Solutions and Support (NASDAQ:ISSC - Get Free Report) last announced its earnings results on Thursday, August 13th. The aerospace company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.11. The firm had revenue of $26.73 million during the quarter, compared to analyst estimates of $23.98 million. Innovative Solutions and Support had a return on equity of 30.53% and a net margin of 20.50%. As a group, equities research analysts forecast that Innovative Solutions and Support, Inc. will post 0.97 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ISSC. Penn Capital Management Company LLC bought a new stake in shares of Innovative Solutions and Support in the second quarter valued at $781,000. Empowered Funds LLC purchased a new position in Innovative Solutions and Support during the 2nd quarter valued at about $200,000. Punch & Associates Investment Management Inc. purchased a new stake in Innovative Solutions and Support in the 2nd quarter worth approximately $10,259,000. Bank of America Corp DE purchased a new stake in shares of Innovative Solutions and Support in the second quarter worth $215,000. Finally, Man Group plc purchased a new position in shares of Innovative Solutions and Support during the second quarter worth about $2,558,000. 28.53% of the stock is owned by institutional investors.

Innovative Solutions and Support Company Profile

Innovative Solutions and Support, Inc NASDAQ: ISSC designs, develops and manufactures cockpit systems and avionics for military and commercial aircraft. Its products are intended to improve flight-deck functionality, situational awareness and aircraft operating efficiency.

The company's product portfolio includes advanced flat-panel primary flight displays, integrated standby instruments, multifunction displays, cockpit control panels, digital interface units and autothrottle systems.

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