Innovative Solutions & Support Inc (NASDAQ:ISSC) shares rose 10.3% during mid-day trading on Monday . The company traded as high as $4.99 and last traded at $4.80, approximately 160,746 shares traded hands during mid-day trading. An increase of 574% from the average daily volume of 23,862 shares. The stock had previously closed at $4.35.
Separately, ValuEngine downgraded Innovative Solutions & Support from a “buy” rating to a “hold” rating in a report on Thursday, August 1st.
The stock has a fifty day moving average of $5.04 and a 200-day moving average of $4.28. The stock has a market capitalization of $73.55 million, a price-to-earnings ratio of 145.00 and a beta of -0.22.
Innovative Solutions & Support (NASDAQ:ISSC) last announced its quarterly earnings results on Wednesday, August 7th. The aerospace company reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.04). The business had revenue of $4.59 million during the quarter. Innovative Solutions & Support had a net margin of 2.67% and a return on equity of 1.27%.
In other news, Director Robert E. Mittelstaedt, Jr. sold 14,133 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $5.08, for a total value of $71,795.64. Following the completion of the sale, the director now directly owns 209,525 shares of the company’s stock, valued at $1,064,387. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 27.70% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of ISSC. Vanguard Group Inc. boosted its holdings in shares of Innovative Solutions & Support by 51.4% in the second quarter. Vanguard Group Inc. now owns 216,185 shares of the aerospace company’s stock valued at $1,103,000 after acquiring an additional 73,362 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Innovative Solutions & Support by 4.7% in the second quarter. Renaissance Technologies LLC now owns 422,776 shares of the aerospace company’s stock valued at $2,156,000 after acquiring an additional 18,989 shares during the period. Finally, BlackRock Inc. boosted its holdings in shares of Innovative Solutions & Support by 1.4% in the second quarter. BlackRock Inc. now owns 463,607 shares of the aerospace company’s stock valued at $2,364,000 after acquiring an additional 6,368 shares during the period. 24.09% of the stock is owned by institutional investors and hedge funds.
About Innovative Solutions & Support (NASDAQ:ISSC)
Innovative Solutions and Support, Inc, a systems integrator, designs, manufactures, sells, and services flight guidance and cockpit display systems. It offers flat panel display systems that could replicate the display of analog or digital displays on one screen and could replace existing displays in legacy aircraft, as well as used for security monitoring on-board aircraft and as tactical workstations on military aircraft; flight management systems that complement the IS&S flat panel display system upgrade for commercial air transport aircraft; and integrated standby units, which incorporate the measurement and display of attitude, altitude, airspeed, and navigation data into a single standby/backup navigation instrument for military, commercial air transport, and corporate/general aviation applications.
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