Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Short Interest Update

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

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, major shareholder Christopher Harborne sold 98,600 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $10.82, for a total transaction of $1,066,852.00. Following the sale, the insider now owns 2,501,169 shares of the company’s stock, valued at $27,062,648.58. This trade represents a 3.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 263,623 shares of company stock valued at $2,911,665 in the last 90 days. 4.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Innovative Solutions and Support

Institutional investors have recently made changes to their positions in the business. Mesirow Financial Investment Management Inc. lifted its stake in shares of Innovative Solutions and Support by 100.0% in the 4th quarter. Mesirow Financial Investment Management Inc. now owns 119,880 shares of the aerospace company’s stock worth $1,024,000 after purchasing an additional 59,940 shares during the period. Barclays PLC bought a new stake in Innovative Solutions and Support during the 3rd quarter worth approximately $32,000. Pekin Hardy Strauss Inc. bought a new stake in Innovative Solutions and Support during the 3rd quarter worth approximately $466,000. Isthmus Partners LLC raised its stake in Innovative Solutions and Support by 17.9% during the 4th quarter. Isthmus Partners LLC now owns 190,460 shares of the aerospace company’s stock worth $1,627,000 after acquiring an additional 28,882 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Innovative Solutions and Support by 29.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 44,040 shares of the aerospace company’s stock worth $287,000 after acquiring an additional 9,888 shares during the period. Institutional investors own 28.53% of the company’s stock.

Innovative Solutions and Support Stock Performance

Shares of NASDAQ:ISSC traded up $0.20 during trading on Wednesday, hitting $7.10. The company’s stock had a trading volume of 69,457 shares, compared to its average volume of 96,189. The company has a 50-day moving average of $8.98 and a 200-day moving average of $7.94. 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 0.55, a current ratio of 5.22 and a quick ratio of 3.02. The firm has a market cap of $124.57 million, a price-to-earnings ratio of 18.68 and a beta of 1.13.

Innovative Solutions and Support (NASDAQ:ISSC) last issued its quarterly earnings data on Thursday, February 13th. The aerospace company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.11). Innovative Solutions and Support had a return on equity of 16.80% and a net margin of 12.40%. The business had revenue of $15.97 million during the quarter.

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.