Short Interest in Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Increases By 191.8%

Innovative Solutions and Support, Inc. (NASDAQ:ISSC) was the recipient of a significant growth in short interest during the month of August. As of August 15th, there was short interest totaling 647,600 shares, agrowthof191.8% from the July 31st total of 221,900 shares. Based on an average daily volume of 567,700 shares, the days-to-cover ratio is presently 1.1 days. Approximately4.2% of the shares of the stock are sold short. Approximately4.2% of the shares of the stock are sold short. Based on an average daily volume of 567,700 shares, the days-to-cover ratio is presently 1.1 days.

Innovative Solutions and Support Trading Down 4.0%

ISSC stock opened at $11.62 on Friday. The company’s 50-day simple moving average is $14.75 and its 200-day simple moving average is $10.55. The company has a quick ratio of 1.69, a current ratio of 3.53 and a debt-to-equity ratio of 0.41. Innovative Solutions and Support has a 52-week low of $5.30 and a 52-week high of $20.00. The firm has a market cap of $204.86 million, a P/E ratio of 17.61 and a beta of 0.80.

Innovative Solutions and Support (NASDAQ:ISSC) last issued its quarterly earnings results on Thursday, August 14th. The aerospace company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The company had revenue of $24.15 million during the quarter, compared to analysts’ expectations of $19.20 million. Innovative Solutions and Support had a net margin of 15.10% and a return on equity of 23.86%.

Wall Street Analyst Weigh In

ISSC has been the topic of a number of analyst reports. Wall Street Zen cut Innovative Solutions and Support from a “buy” rating to a “hold” rating in a research note on Sunday, August 24th. Singular Research upgraded Innovative Solutions and Support to a “strong-buy” rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Strong Buy”.

Insider Activity

In other news, major shareholder Christopher Harborne sold 145,009 shares of Innovative Solutions and Support stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $13.69, for a total value of $1,985,173.21. Following the sale, the insider directly owned 1,583,411 shares of the company’s stock, valued at approximately $21,676,896.59. The trade was a 8.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 597,350 shares of company stock valued at $7,749,690 over the last quarter. Insiders own 4.40% of the company’s stock.

Institutional Trading of Innovative Solutions and Support

Hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in Innovative Solutions and Support by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 432,030 shares of the aerospace company’s stock valued at $3,690,000 after buying an additional 10,061 shares during the period. Northern Trust Corp boosted its position in Innovative Solutions and Support by 32.2% in the 4th quarter. Northern Trust Corp now owns 45,043 shares of the aerospace company’s stock valued at $385,000 after buying an additional 10,961 shares during the period. Schonfeld Strategic Advisors LLC purchased a new position in Innovative Solutions and Support in the 4th quarter valued at approximately $89,000. Jane Street Group LLC purchased a new position in Innovative Solutions and Support in the 4th quarter valued at approximately $269,000. Finally, Ameriprise Financial Inc. purchased a new position in Innovative Solutions and Support in the 4th quarter valued at approximately $389,000. Institutional investors and hedge funds own 28.53% of the company’s stock.

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.