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

Innovative Solutions and Support, Inc. (NASDAQ:ISSC) shares passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $20.56 and traded as high as $21.76. Innovative Solutions and Support shares last traded at $21.30, with a volume of 267,418 shares.

Innovative Solutions and Support Trading Up 9.5%

The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.49 and a current ratio of 2.97. The business’s 50 day moving average price is $19.23 and its 200-day moving average price is $20.56. The firm has a market cap of $381.12 million, a price-to-earnings ratio of 20.29 and a beta of 0.59.

Innovative Solutions and Support (NASDAQ:ISSC) last announced 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 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%. Equities analysts expect that Innovative Solutions and Support, Inc. will post 0.97 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Punch & Associates Investment Management Inc. bought a new stake in shares of Innovative Solutions and Support in the 2nd quarter valued at approximately $10,259,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Innovative Solutions and Support during the second quarter worth $3,025,000. Man Group plc bought a new position in Innovative Solutions and Support during the second quarter worth $2,558,000. Bank of New York Mellon Corp acquired a new position in Innovative Solutions and Support in the second quarter worth $2,532,000. Finally, BlackRock Inc. acquired a new position in Innovative Solutions and Support in the second quarter worth $19,204,000. 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. These products are used in commercial, business and military aircraft, as well as in retrofit and original-equipment applications.