Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Sees Large Increase in Short Interest

Innovative Solutions and Support, Inc. (NASDAQ:ISSC) saw a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 98,900 shares, a growth of 38.1% from the January 15th total of 71,600 shares. Based on an average daily trading volume, of 170,900 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.8% of the shares of the company are short sold.

Innovative Solutions and Support Trading Down 18.5 %

ISSC traded down $1.96 during trading on Friday, reaching $8.63. The company had a trading volume of 1,442,607 shares, compared to its average volume of 267,534. The firm’s 50-day simple moving average is $9.42 and its 200 day simple moving average is $7.86. The company has a market cap of $151.37 million, a price-to-earnings ratio of 21.58 and a beta of 1.03. Innovative Solutions and Support has a 12-month low of $4.91 and a 12-month high of $12.17. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.02 and a current ratio of 4.77.

Innovative Solutions and Support (NASDAQ:ISSC) last issued its quarterly earnings results on Thursday, February 13th. The aerospace company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.11). The company had revenue of $15.97 million during the quarter. Innovative Solutions and Support had a return on equity of 18.32% and a net margin of 14.83%.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Innovative Solutions and Support from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd.

Insider Buying and Selling at Innovative Solutions and Support

In related news, major shareholder Christopher Harborne sold 14,970 shares of Innovative Solutions and Support stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $11.59, for a total transaction of $173,502.30. Following the sale, the insider now directly owns 2,296,645 shares in the company, valued at $26,618,115.55. The trade was a 0.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 263,623 shares of company stock worth $2,911,665. 3.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Innovative Solutions and Support

Several institutional investors and hedge funds have recently bought and sold shares of the business. Jane Street Group LLC purchased a new position in Innovative Solutions and Support during the 4th quarter valued at about $269,000. Schonfeld Strategic Advisors LLC purchased a new position in Innovative Solutions and Support during the 4th quarter valued at about $89,000. Northern Trust Corp grew its stake in Innovative Solutions and Support by 32.2% during the 4th quarter. Northern Trust Corp now owns 45,043 shares of the aerospace company’s stock valued at $385,000 after acquiring an additional 10,961 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Innovative Solutions and Support by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 432,030 shares of the aerospace company’s stock valued at $3,690,000 after acquiring an additional 10,061 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in Innovative Solutions and Support during the 4th quarter valued at about $1,283,000. Hedge funds and other institutional investors own 28.53% of the company’s stock.

Innovative Solutions and Support Company Profile

Innovative Solutions and Support, Inc, a systems integrator, designs, develops, manufactures, sells, and services flight guidance, autothrottles, and cockpit display systems in the United States and internationally. It offers flat panel display systems that replicate the display of analog or digital displays on one screen and replace existing displays in legacy aircraft, as well as used for security monitoring on-board aircraft and as tactical workstations on military aircraft; and flight deck management system, a navigation and performance computer that upgrade for commercial air transport aircraft.