Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Sees Significant Decrease in Short Interest

Innovative Solutions and Support, Inc. (NASDAQ:ISSC) saw a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 88,300 shares, a decrease 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 currently 0.4 days. Currently, 0.7% of the company’s shares are sold short.

Innovative Solutions and Support Trading Down 1.0 %

Innovative Solutions and Support stock traded down $0.07 during trading hours on Thursday, reaching $7.03. 5,187 shares of the company’s stock were exchanged, compared to its average volume of 96,064. The firm’s 50 day simple moving average is $8.96 and its 200 day simple moving average is $7.93. Innovative Solutions and Support has a twelve month low of $4.91 and a twelve month high of $12.17. The company has a quick ratio of 3.02, a current ratio of 5.22 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $123.34 million, a PE ratio of 18.47 and a beta of 1.13.

Innovative Solutions and Support (NASDAQ:ISSC) last released its earnings results on Thursday, February 13th. The aerospace company reported $0.04 EPS 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 for the quarter.

Analysts Set New Price Targets

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

Insider Activity

In related news, major shareholder Christopher Harborne sold 98,600 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $10.82, for a total value of $1,066,852.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 263,623 shares of company stock valued at $2,911,665. Company insiders own 4.40% of the company’s stock.

Institutional Trading of Innovative Solutions and Support

Several hedge funds have recently modified their holdings of the stock. Millennium Management LLC increased its stake in Innovative Solutions and Support by 23.1% in the fourth quarter. Millennium Management LLC now owns 26,391 shares of the aerospace company’s stock valued at $225,000 after purchasing an additional 4,951 shares in the last quarter. Ameriprise Financial Inc. acquired a new position in shares of Innovative Solutions and Support during the fourth quarter worth approximately $389,000. Jane Street Group LLC bought a new position in shares of Innovative Solutions and Support in the 4th quarter worth $269,000. Schonfeld Strategic Advisors LLC acquired a new stake in Innovative Solutions and Support in the 4th quarter valued at $89,000. Finally, Northern Trust Corp increased its stake in Innovative Solutions and Support by 32.2% during the 4th quarter. Northern Trust Corp now owns 45,043 shares of the aerospace company’s stock valued at $385,000 after purchasing an additional 10,961 shares in the last quarter. Institutional investors 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.