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

Innovative Solutions and Support, Inc. (NASDAQ:ISSC) was the recipient of a significant 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 daily trading volume, of 235,800 shares, the short-interest ratio is presently 0.4 days. Currently, 0.7% of the shares of the stock are short sold.

Innovative Solutions and Support Price Performance

Shares of ISSC stock traded up $0.20 on Wednesday, reaching $7.10. The company’s stock had a trading volume of 69,457 shares, compared to its average volume of 96,189. The stock’s fifty day simple moving average is $8.98 and its 200-day simple moving average is $7.94. Innovative Solutions and Support has a 1 year low of $4.91 and a 1 year high of $12.17. The company has a current ratio of 5.22, a quick ratio of 3.02 and a debt-to-equity ratio of 0.55. The company has a market capitalization 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 posted 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). Innovative Solutions and Support had a net margin of 12.40% and a return on equity of 16.80%. The business had revenue of $15.97 million during the quarter.

Insider Activity

In other news, major shareholder Christopher Harborne sold 98,600 shares of Innovative Solutions and Support stock in a transaction that occurred on 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 in the company, valued at $27,062,648.58. This trade represents a 3.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 263,623 shares of company stock worth $2,911,665 over the last quarter. Insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ISSC. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Innovative Solutions and Support by 29.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 44,040 shares of the aerospace company’s stock valued at $287,000 after purchasing an additional 9,888 shares in the last quarter. Pekin Hardy Strauss Inc. purchased a new position in Innovative Solutions and Support during the third quarter worth $466,000. Corsair Capital Management L.P. purchased a new position in Innovative Solutions and Support during the third quarter worth $155,000. Barclays PLC purchased a new position in Innovative Solutions and Support during the third quarter worth $32,000. Finally, Mesirow Financial Investment Management Inc. boosted its stake in 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 worth $1,024,000 after buying an additional 59,940 shares during the period. 28.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.