Innovative Solutions and Support, Inc. $ISSC Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its holdings in Innovative Solutions and Support, Inc. (NASDAQ:ISSC) by 12.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 302,893 shares of the aerospace company’s stock after purchasing an additional 33,800 shares during the period. Renaissance Technologies LLC’s holdings in Innovative Solutions and Support were worth $6,218,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd increased its holdings in 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 worth $27,000 after purchasing an additional 1,422 shares during the last quarter. Global Retirement Partners LLC acquired a new position in shares of Innovative Solutions and Support in the 4th quarter valued at approximately $36,000. Bank of America Corp DE boosted its stake in shares of Innovative Solutions and Support by 589.9% during the 3rd quarter. Bank of America Corp DE now owns 9,113 shares of the aerospace company’s stock valued at $114,000 after buying an additional 7,792 shares during the last quarter. State of Wyoming purchased a new position in shares of Innovative Solutions and Support during the 1st quarter valued at approximately $218,000. Finally, American Century Companies Inc. grew its position in shares of 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 buying an additional 2,228 shares in the last quarter. Institutional investors and hedge funds own 28.53% of the company’s stock.

Wall Street Analyst Weigh In

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

Innovative Solutions and Support Trading Up 7.6%

NASDAQ:ISSC opened at $20.95 on Wednesday. The company has a market cap of $374.80 million, a PE ratio of 22.29 and a beta of 0.59. The business’s 50 day moving average is $18.02 and its two-hundred day moving average is $20.88. The company has a quick ratio of 1.53, a current ratio of 3.23 and a debt-to-equity ratio of 0.68. Innovative Solutions and Support, Inc. has a 52 week low of $8.13 and a 52 week high of $30.94.

Innovative Solutions and Support (NASDAQ:ISSC) last issued its quarterly earnings results on Thursday, May 14th. The aerospace company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. The business had revenue of $22.37 million during the quarter, compared to the consensus estimate of $21.59 million. Innovative Solutions and Support had a return on equity of 27.52% and a net margin of 18.82%. On average, analysts predict 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.