Innovative Solutions and Support (NASDAQ:ISSC) Rating Lowered to “Buy” at StockNews.com

Innovative Solutions and Support (NASDAQ:ISSC) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Friday.

Innovative Solutions and Support Price Performance

ISSC traded up $0.65 during trading on Friday, hitting $8.15. 526,588 shares of the stock traded hands, compared to its average volume of 46,924. The business has a 50 day moving average price of $7.53 and a 200 day moving average price of $6.78. Innovative Solutions and Support has a twelve month low of $4.91 and a twelve month high of $9.00. The company has a market cap of $142.63 million, a price-to-earnings ratio of 22.03 and a beta of 1.06.

Innovative Solutions and Support (NASDAQ:ISSC) last announced its quarterly earnings data on Thursday, December 19th. The aerospace company reported $0.21 earnings per share for the quarter. Innovative Solutions and Support had a return on equity of 16.62% and a net margin of 14.40%.

Hedge Funds Weigh In On Innovative Solutions and Support

A number of institutional investors have recently added to or reduced their stakes in ISSC. Dimensional Fund Advisors LP raised its position in Innovative Solutions and Support by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 418,119 shares of the aerospace company’s stock valued at $2,509,000 after purchasing an additional 8,760 shares during the last quarter. Pekin Hardy Strauss Inc. bought a new position in Innovative Solutions and Support in the 3rd quarter valued at approximately $466,000. Gabelli Funds LLC boosted its position in Innovative Solutions and Support by 42.2% during the 2nd quarter. Gabelli Funds LLC now owns 62,585 shares of the aerospace company’s stock worth $376,000 after buying an additional 18,585 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Innovative Solutions and Support by 29.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 44,040 shares of the aerospace company’s stock worth $287,000 after acquiring an additional 9,888 shares during the last quarter. Finally, Corsair Capital Management L.P. acquired a new position in Innovative Solutions and Support in the 3rd quarter valued at approximately $155,000. 28.53% of the stock is currently owned by institutional investors and hedge funds.

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.