Innovative Solutions and Support (NASDAQ:ISSC) Stock Breaks Above Two Hundred Day Moving Average – Here’s What Happened

Innovative Solutions and Support, Inc. (NASDAQ:ISSC)’s stock price crossed 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.

Innovative Solutions and Support Stock Down 4.0%

The business has a fifty day simple moving average of $19.36 and a 200 day simple moving average of $20.60. The firm has a market cap of $371.64 million, a price-to-earnings ratio of 19.78 and a beta of 0.59. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.97 and a quick ratio of 1.49.

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

Institutional Investors Weigh In On Innovative Solutions and Support

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in shares of Innovative Solutions and Support in the second quarter valued at approximately $19,204,000. Punch & Associates Investment Management Inc. acquired a new stake in shares of Innovative Solutions and Support in the second quarter valued at approximately $10,259,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Innovative Solutions and Support during the second quarter worth approximately $3,025,000. Man Group plc purchased a new position in Innovative Solutions and Support during the second quarter worth approximately $2,558,000. Finally, Bank of New York Mellon Corp acquired a new position in Innovative Solutions and Support during the second quarter worth $2,532,000. Institutional investors and hedge funds own 28.53% of the company’s stock.

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.