Sierra Summit Advisors LLC Buys Shares of 48,672 Innovative Solutions and Support, Inc. $ISSC

Sierra Summit Advisors LLC purchased a new stake in Innovative Solutions and Support, Inc. (NASDAQ:ISSC) in the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 48,672 shares of the aerospace company’s stock, valued at approximately $999,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd raised its position in shares of Innovative Solutions and Support by 7,484.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,441 shares of the aerospace company’s stock valued at $27,000 after buying an additional 1,422 shares during the period. Global Retirement Partners LLC purchased a new position in Innovative Solutions and Support in the fourth quarter worth approximately $36,000. Bank of America Corp DE grew its position 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 worth $114,000 after acquiring an additional 7,792 shares during the period. Quantbot Technologies LP acquired a new stake in Innovative Solutions and Support during the third quarter worth $160,000. Finally, American Century Companies Inc. increased its stake in Innovative Solutions and Support by 21.9% during the second quarter. American Century Companies Inc. now owns 12,386 shares of the aerospace company’s stock worth $172,000 after acquiring an additional 2,228 shares during the last quarter. Institutional investors and hedge funds own 28.53% of the company’s stock.

Innovative Solutions and Support Stock Performance

Shares of Innovative Solutions and Support stock opened at $18.39 on Friday. The business has a 50-day simple moving average of $18.17 and a 200-day simple moving average of $20.74. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.53 and a current ratio of 3.23. Innovative Solutions and Support, Inc. has a one year low of $8.13 and a one year high of $30.94. The company has a market cap of $329.00 million, a PE ratio of 19.56 and a beta of 0.60.

Innovative Solutions and Support (NASDAQ:ISSC) last issued its earnings results on Thursday, May 14th. The aerospace company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.06. Innovative Solutions and Support had a net margin of 18.82% and a return on equity of 27.52%. The firm had revenue of $22.37 million for the quarter, compared to analysts’ expectations of $21.59 million. On average, equities research analysts forecast that Innovative Solutions and Support, Inc. will post 0.97 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ISSC shares. Weiss Ratings downgraded Innovative Solutions and Support from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, June 12th. Wall Street Zen cut shares of Innovative Solutions and Support from a “buy” rating to a “hold” rating in a research report on Saturday, May 23rd. Finally, Zacks Research lowered shares of Innovative Solutions and Support from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $16.25.

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.