Short Interest in Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Declines By 18.7%

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

Insiders Place Their Bets

In related news, major shareholder Christopher Harborne sold 7,086 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $11.17, for a total transaction of $79,150.62. Following the completion of the sale, the insider now owns 2,417,771 shares of the company’s stock, valued at $27,006,502.07. This trade represents a 0.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders have sold 263,623 shares of company stock worth $2,911,665. 4.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Innovative Solutions and Support

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC bought a new stake in Innovative Solutions and Support in the third quarter worth $32,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Innovative Solutions and Support in the 4th quarter worth about $89,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Innovative Solutions and Support during the 4th quarter valued at about $107,000. XTX Topco Ltd bought a new position in shares of Innovative Solutions and Support in the 4th quarter valued at about $119,000. Finally, Corsair Capital Management L.P. purchased a new position in Innovative Solutions and Support in the third quarter worth about $155,000. 28.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Innovative Solutions and Support Stock Performance

NASDAQ:ISSC traded up $0.01 during mid-day trading on Tuesday, hitting $6.90. 67,483 shares of the company traded hands, compared to its average volume of 96,296. The stock’s fifty day moving average price is $9.02 and its 200-day moving average price is $7.94. The company has a quick ratio of 3.02, a current ratio of 5.22 and a debt-to-equity ratio of 0.55. Innovative Solutions and Support has a one year low of $4.91 and a one year high of $12.17. The firm has a market cap of $121.06 million, a price-to-earnings ratio of 18.16 and a beta of 1.13.

Innovative Solutions and Support (NASDAQ:ISSC) last released its 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 firm had revenue of $15.97 million for the quarter. Innovative Solutions and Support had a net margin of 12.40% and a return on equity of 16.80%.

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.