Hennion & Walsh Asset Management Inc. raised its position in shares of Innovative Solutions and Support, Inc. (NASDAQ:ISSC – Free Report) by 30.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 186,853 shares of the aerospace company’s stock after purchasing an additional 43,553 shares during the period. Hennion & Walsh Asset Management Inc. owned 1.04% of Innovative Solutions and Support worth $3,363,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd increased its holdings in Innovative Solutions and Support by 7,484.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,441 shares of the aerospace company’s stock worth $27,000 after buying an additional 1,422 shares during the last quarter. Global Retirement Partners LLC bought a new position in Innovative Solutions and Support during the fourth quarter valued at approximately $36,000. Bank of America Corp DE lifted its stake in Innovative Solutions and Support by 589.9% in the third quarter. Bank of America Corp DE now owns 9,113 shares of the aerospace company’s stock valued at $114,000 after acquiring an additional 7,792 shares during the last quarter. Royal Bank of Canada lifted its stake in Innovative Solutions and Support by 496.6% in the first quarter. Royal Bank of Canada now owns 7,619 shares of the aerospace company’s stock valued at $156,000 after acquiring an additional 6,342 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in Innovative Solutions and Support in the third quarter worth approximately $160,000. 28.53% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the stock. Weiss Ratings lowered shares of Innovative Solutions and Support from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, June 12th. Zacks Research cut shares of Innovative Solutions and Support from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Finally, Wall Street Zen downgraded shares of Innovative Solutions and Support from a “buy” rating to a “hold” rating in a research report on Saturday, May 23rd. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Innovative Solutions and Support currently has a consensus rating of “Buy” and a consensus target price of $16.25.
Innovative Solutions and Support Stock Performance
NASDAQ:ISSC opened at $19.75 on Tuesday. The firm has a market capitalization of $353.33 million, a PE ratio of 21.01 and a beta of 0.59. Innovative Solutions and Support, Inc. has a 1 year low of $8.13 and a 1 year high of $30.94. The company has a current ratio of 3.23, a quick ratio of 1.53 and a debt-to-equity ratio of 0.68. The firm’s fifty day simple moving average is $18.28 and its 200 day simple moving average is $20.83.
Innovative Solutions and Support (NASDAQ:ISSC – Get Free Report) last released its earnings results on Thursday, May 14th. The aerospace company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. The firm had revenue of $22.37 million during the quarter, compared to analyst estimates of $21.59 million. Innovative Solutions and Support had a net margin of 18.82% and a return on equity of 27.52%. On average, sell-side analysts anticipate that Innovative Solutions and Support, Inc. will post 0.97 EPS for the current year.
Innovative Solutions and Support Company Profile
Innovative Solutions and Support, Inc (NASDAQ: ISSC) is a provider of technology solutions and mission support services to U.S. federal government agencies, with a focus on defense, intelligence, and national security programs. The company delivers integrated program management, systems engineering, and advanced IT infrastructure support designed to enhance operational readiness and maintain secure, scalable environments for mission-critical operations.
Its core service offerings include systems integration, custom software development, data analytics, cybersecurity, and logistics management.
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