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

Innovative Solutions and Support, Inc. (NASDAQ:ISSC) saw a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 88,300 shares, a decline of 18.7% from the February 13th total of 108,600 shares. Currently, 0.7% of the shares of the company are sold short. Based on an average daily trading volume, of 235,800 shares, the days-to-cover ratio is currently 0.4 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Innovative Solutions and Support from a “buy” rating to a “hold” rating in a report on Thursday, February 27th.

Insider Buying and Selling

In related news, major shareholder Christopher Harborne sold 10,000 shares of Innovative Solutions and Support stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $10.16, for a total value of $101,600.00. Following the sale, the insider now owns 2,599,769 shares of the company’s stock, valued at approximately $26,413,653.04. The trade was a 0.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 263,623 shares of company stock valued at $2,911,665. 4.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Innovative Solutions and Support

Hedge funds have recently modified their holdings of the company. Marshall Wace LLP purchased a new stake in Innovative Solutions and Support in the fourth quarter worth $1,283,000. Renaissance Technologies LLC lifted its position in shares of Innovative Solutions and Support by 18.5% in the 4th quarter. Renaissance Technologies LLC now owns 480,659 shares of the aerospace company’s stock worth $4,105,000 after purchasing an additional 75,100 shares during the period. Pekin Hardy Strauss Inc. bought a new stake in shares of Innovative Solutions and Support during the 3rd quarter valued at about $466,000. Mesirow Financial Investment Management Inc. increased its position in shares of Innovative Solutions and Support by 100.0% during the fourth quarter. Mesirow Financial Investment Management Inc. now owns 119,880 shares of the aerospace company’s stock valued at $1,024,000 after buying an additional 59,940 shares during the period. Finally, Ameriprise Financial Inc. purchased a new position in shares of Innovative Solutions and Support during the fourth quarter valued at about $389,000. Hedge funds and other institutional investors own 28.53% of the company’s stock.

Innovative Solutions and Support Price Performance

Innovative Solutions and Support stock traded up $0.01 during midday trading on Tuesday, hitting $6.90. 67,483 shares of the company’s stock were exchanged, compared to its average volume of 96,296. The company has a market cap of $121.06 million, a P/E ratio of 18.16 and a beta of 1.13. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.02 and a current ratio of 5.22. The stock has a 50-day moving average price of $9.02 and a two-hundred day moving average price of $7.94. Innovative Solutions and Support has a 52-week low of $4.91 and a 52-week high of $12.17.

Innovative Solutions and Support (NASDAQ:ISSC) last announced its earnings results on Thursday, February 13th. The aerospace company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate 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 16.80% and a net margin of 12.40%.

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.