Innovative Solutions & Support Inc (NASDAQ:ISSC) rose 10% during trading on Thursday . The stock traded as high as $5.17 and last traded at $5.01. Approximately 159,075 shares changed hands during mid-day trading, an increase of 1,213% from the average daily volume of 12,119 shares. The stock had previously closed at $4.55.
ISSC has been the subject of several recent research reports. TheStreet raised Innovative Solutions & Support from a “d+” rating to a “c” rating in a research note on Thursday, May 9th. ValuEngine upgraded Innovative Solutions & Support from a “hold” rating to a “buy” rating in a report on Thursday, June 6th.
The business’s fifty day simple moving average is $4.40.
In other news, Director Glen R. Bressner sold 24,000 shares of the stock in a transaction on Friday, May 17th. The stock was sold at an average price of $4.64, for a total transaction of $111,360.00. Following the completion of the transaction, the director now directly owns 106,498 shares in the company, valued at approximately $494,150.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 27.70% of the company’s stock.
A hedge fund recently raised its stake in Innovative Solutions & Support stock. WealthTrust Axiom LLC increased its position in shares of Innovative Solutions & Support Inc (NASDAQ:ISSC) by 0.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,417,199 shares of the aerospace company’s stock after acquiring an additional 7,025 shares during the period. Innovative Solutions & Support comprises 1.5% of WealthTrust Axiom LLC’s investment portfolio, making the stock its 17th biggest position. WealthTrust Axiom LLC owned approximately 8.38% of Innovative Solutions & Support worth $4,265,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 23.87% of the company’s stock.
About Innovative Solutions & Support (NASDAQ:ISSC)
Innovative Solutions and Support, Inc, a systems integrator, designs, manufactures, sells, and services flight guidance and cockpit display systems. It offers flat panel display systems that could replicate the display of analog or digital displays on one screen and could replace existing displays in legacy aircraft, as well as used for security monitoring on-board aircraft and as tactical workstations on military aircraft; flight management systems that complement the IS&S flat panel display system upgrade for commercial air transport aircraft; and integrated standby units, which incorporate the measurement and display of attitude, altitude, airspeed, and navigation data into a single standby/backup navigation instrument for military, commercial air transport, and corporate/general aviation applications.
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