Innovative Solutions and Support (NASDAQ:ISSC) Stock Price Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• Innovative Solutions and Support shares rose 1.2%, reaching $20.85 and closing near $20.74, above the stock’s 200-day moving average of $20.59.
• The company reported stronger-than-expected quarterly results, with earnings of $0.33 per share versus a $0.22 consensus estimate and revenue of $26.73 million versus expectations of $23.98 million.
• Institutional interest has increased, with hedge funds and other institutional investors owning 28.53% of the stock; major investors including BlackRock and Punch & Associates established new positions.

Innovative Solutions and Support, Inc. (NASDAQ:ISSC - Get Free Report) passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $20.59 and traded as high as $20.85. Innovative Solutions and Support shares last traded at $20.74, with a volume of 163,184 shares changing hands.

Innovative Solutions and Support Trading Up 1.2%

The firm has a market capitalization of $371.10 million, a price-to-earnings ratio of 19.75 and a beta of 0.59. The company has a 50-day moving average price of $19.36 and a 200-day moving average price of $20.59. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.49 and a current ratio of 2.97.

Innovative Solutions and Support (NASDAQ:ISSC - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The aerospace company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.11. The business had revenue of $26.73 million during the quarter, compared to the consensus estimate 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, research analysts forecast that Innovative Solutions and Support, Inc. will post 0.97 EPS for the current fiscal year.

Hedge Funds Weigh In On Innovative Solutions and Support

A number of large investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Innovative Solutions and Support during the 2nd quarter valued at $19,204,000. Punch & Associates Investment Management Inc. purchased a new stake in shares of Innovative Solutions and Support during the second quarter worth $10,259,000. Renaissance Technologies LLC boosted its position in Innovative Solutions and Support by 12.6% during the first quarter. Renaissance Technologies LLC now owns 302,893 shares of the aerospace company's stock worth $6,218,000 after purchasing an additional 33,800 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Innovative Solutions and Support by 22.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 276,323 shares of the aerospace company's stock worth $5,673,000 after purchasing an additional 51,222 shares during the period. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in shares of Innovative Solutions and Support by 30.4% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 186,853 shares of the aerospace company's stock worth $3,363,000 after buying an additional 43,553 shares in 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 NASDAQ: ISSC develops and manufactures avionics and related systems for the aerospace industry. Its products are designed to support aircraft navigation, flight management, cockpit displays, flight controls and other critical flight operations.

The company's offerings include advanced cockpit display systems, integrated standby instrument systems, air data and navigation products, flight management systems, and precision flight-control technologies.

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