Wall Street Zen Upgrades Innovative Solutions and Support Stock

Innovative Solutions and Support (NASDAQ: ISSC) received an upgrade from Wall Street Zen, moving from a “hold” rating to a “buy” rating, according to a note released to investors on October 7, 2023. This positive shift highlights growing confidence in the stock’s potential among analysts.

Several research firms have recently provided insights on ISSC’s performance. Weiss Ratings reaffirmed a “hold (c+)” rating for the stock in a report published on October 8, 2023. Additionally, Northland Securities initiated coverage on ISSC, issuing an “outperform” rating along with a price target of $16.50. As it stands, two investment analysts have given the stock a Strong Buy rating, while one has designated it a Buy and another has issued a Hold rating. Data compiled by MarketBeat.com indicates an average rating of “Buy” and a consensus target price also set at $16.50.

Institutional Trading Activity

Recent movements among institutional investors have further influenced ISSC’s stock dynamics. Notably, Bank of America Corp DE significantly increased its holdings in Innovative Solutions and Support by an impressive 589.9% during the third quarter. After acquiring an additional 7,792 shares, Bank of America now owns 9,113 shares valued at approximately $114,000.

Other institutional investments include Matauro LLC, which established a new position valued at roughly $125,000. American Century Companies Inc. also purchased new shares in the first quarter, valued at around $64,000. Additionally, Quantbot Technologies LP and Squarepoint Ops LLC acquired stakes worth approximately $160,000 and $180,000, respectively, during the third quarter. Currently, hedge funds and institutional investors collectively own 28.53% of the company’s stock.

About Innovative Solutions and Support

Innovative Solutions and Support, Inc. is a systems integrator specializing in the design, development, manufacturing, sales, and servicing of flight guidance systems, autothrottles, and cockpit display systems both in the United States and internationally. The company provides advanced flat panel display systems that modernize the analog or digital displays in legacy aircraft. These systems are also utilized for security monitoring on planes and serve as tactical workstations for military aircraft. Furthermore, ISSC offers a flight deck management system, a navigation and performance computer that enhances commercial air transport aircraft.

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