Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Short Interest Up 38.1% in January

Innovative Solutions and Support, Inc. (NASDAQ:ISSC) saw a large 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. Currently, 0.8% of the company’s shares are sold short. Based on an average daily volume of 170,900 shares, the short-interest ratio is presently 0.6 days.

Wall Street Analysts Forecast Growth

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

Innovative Solutions and Support Stock Down 18.5 %

NASDAQ:ISSC traded down $1.96 during trading hours on Friday, hitting $8.63. The stock had a trading volume of 1,442,607 shares, compared to its average volume of 267,534. The company has a current ratio of 4.77, a quick ratio of 3.02 and a debt-to-equity ratio of 0.60. Innovative Solutions and Support has a 1-year low of $4.91 and a 1-year high of $12.17. The business has a 50 day simple moving average of $9.42 and a two-hundred day simple moving average of $7.86. The company has a market cap of $151.37 million, a PE ratio of 21.58 and a beta of 1.03.

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 (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.11). Innovative Solutions and Support had a net margin of 14.83% and a return on equity of 18.32%. The firm had revenue of $15.97 million during the quarter.

Insiders Place Their Bets

In other news, major shareholder Christopher Harborne sold 98,600 shares of the 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 transaction, the insider now directly owns 2,501,169 shares in the company, valued at $27,062,648.58. This represents a 3.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 263,623 shares of company stock valued at $2,911,665 in the last ninety days. Insiders own 3.70% of the company’s stock.

Institutional Trading of Innovative Solutions and Support

A number of hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC acquired a new stake in shares of Innovative Solutions and Support during the fourth quarter worth approximately $269,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Innovative Solutions and Support during the fourth quarter worth approximately $89,000. Northern Trust Corp grew its position in shares of Innovative Solutions and Support by 32.2% during the fourth quarter. Northern Trust Corp now owns 45,043 shares of the aerospace company’s stock worth $385,000 after buying an additional 10,961 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Innovative Solutions and Support by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 432,030 shares of the aerospace company’s stock worth $3,690,000 after buying an additional 10,061 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Innovative Solutions and Support during the fourth quarter worth approximately $1,283,000. Institutional investors and hedge funds own 28.53% of the company’s stock.

About Innovative Solutions and Support

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.