Innovative Solutions and Support (NASDAQ:ISSC) Announces Earnings Results, Beats Expectations By $0.33 EPS

Innovative Solutions and Support (NASDAQ:ISSC) issued its quarterly earnings data on Thursday. The aerospace company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.33, FiscalAI reports. The company had revenue of $22.25 million during the quarter, compared to the consensus estimate of $18.59 million. Innovative Solutions and Support had a return on equity of 23.86% and a net margin of 15.10%.

Innovative Solutions and Support Stock Performance

Shares of ISSC traded up $4.03 on Thursday, reaching $15.02. 1,476,723 shares of the company’s stock traded hands, compared to its average volume of 345,403. The stock’s 50 day simple moving average is $10.00 and its two-hundred day simple moving average is $12.28. The stock has a market cap of $264.86 million, a PE ratio of 22.92 and a beta of 0.77. Innovative Solutions and Support has a 52-week low of $5.30 and a 52-week high of $20.00. The company has a current ratio of 3.53, a quick ratio of 1.69 and a debt-to-equity ratio of 0.41.

Hedge Funds Weigh In On Innovative Solutions and Support

Several institutional investors and hedge funds have recently bought and sold shares of ISSC. Bank of America Corp DE boosted its position in Innovative Solutions and Support by 589.9% during the third quarter. Bank of America Corp DE now owns 9,113 shares of the aerospace company’s stock worth $114,000 after purchasing an additional 7,792 shares during the period. American Century Companies Inc. lifted its stake in shares of Innovative Solutions and Support by 21.9% during the 2nd quarter. American Century Companies Inc. now owns 12,386 shares of the aerospace company’s stock valued at $172,000 after buying an additional 2,228 shares in the last quarter. Quantbot Technologies LP bought a new position in Innovative Solutions and Support in the 3rd quarter worth approximately $160,000. Squarepoint Ops LLC purchased a new position in Innovative Solutions and Support in the 3rd quarter valued at approximately $180,000. Finally, Jump Financial LLC purchased a new position in Innovative Solutions and Support in the 2nd quarter valued at approximately $224,000. 28.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ISSC. Craig Hallum began coverage on Innovative Solutions and Support in a report on Friday, December 5th. They issued a “buy” rating and a $16.00 target price for the company. Northland Securities started coverage on shares of Innovative Solutions and Support in a research note on Friday, November 21st. They issued an “outperform” rating and a $16.50 price target for the company. Northland Capmk raised shares of Innovative Solutions and Support to a “strong-buy” rating in a research report on Friday, November 21st. Wall Street Zen upgraded Innovative Solutions and Support from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Innovative Solutions and Support in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $16.25.

About Innovative Solutions and Support

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.