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

Innovative Solutions and Support, Inc. (NASDAQ:ISSC) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 68,600 shares, a growth of 29.7% from the December 15th total of 52,900 shares. Based on an average daily trading volume, of 98,200 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.6% of the company’s stock are short sold.

Innovative Solutions and Support Stock Up 1.2 %

Shares of NASDAQ ISSC traded up $0.12 during trading on Friday, reaching $10.29. The company had a trading volume of 283,435 shares, compared to its average volume of 178,393. Innovative Solutions and Support has a 12-month low of $4.91 and a 12-month high of $10.50. The company has a quick ratio of 3.02, a current ratio of 4.77 and a debt-to-equity ratio of 0.60. The business’s 50-day moving average is $8.11 and its 200 day moving average is $7.13. The stock has a market cap of $180.49 million, a PE ratio of 25.73 and a beta of 1.00.

Innovative Solutions and Support (NASDAQ:ISSC) last announced its quarterly earnings results on Thursday, December 19th. The aerospace company reported $0.21 earnings per share (EPS) for the quarter. Innovative Solutions and Support had a net margin of 14.83% and a return on equity of 18.32%.

Hedge Funds Weigh In On Innovative Solutions and Support

A number of hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in shares of Innovative Solutions and Support by 2.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 418,119 shares of the aerospace company’s stock worth $2,509,000 after acquiring an additional 8,760 shares during the last quarter. Gabelli Funds LLC lifted its position in shares of Innovative Solutions and Support by 42.2% during the 2nd quarter. Gabelli Funds LLC now owns 62,585 shares of the aerospace company’s stock valued at $376,000 after buying an additional 18,585 shares in the last quarter. James Investment Research Inc. purchased a new position in shares of Innovative Solutions and Support during the 3rd quarter valued at $68,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Innovative Solutions and Support by 29.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 44,040 shares of the aerospace company’s stock worth $287,000 after buying an additional 9,888 shares during the period. Finally, Pekin Hardy Strauss Inc. purchased a new stake in Innovative Solutions and Support in the 3rd quarter worth $466,000. 28.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Innovative Solutions and Support from a “strong-buy” rating to a “buy” rating in a research note on Sunday, January 5th.

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.