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

Innovative Solutions and Support, Inc. (NASDAQ:ISSC) was the recipient of a large decline in short interest in February. As of February 28th, there was short interest totalling 88,300 shares, a decline of 18.7% from the February 13th total of 108,600 shares. Currently, 0.7% of the company’s stock are sold short. Based on an average daily volume of 235,800 shares, the short-interest ratio is currently 0.4 days.

Wall Street Analyst Weigh In

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

Innovative Solutions and Support Stock Down 1.0 %

Innovative Solutions and Support stock traded down $0.07 during midday trading on Thursday, hitting $7.03. 5,187 shares of the stock were exchanged, compared to its average volume of 96,064. Innovative Solutions and Support has a 52-week low of $4.91 and a 52-week 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 business’s 50-day moving average price is $8.96 and its 200-day moving average price is $7.93. The stock has a market capitalization of $123.34 million, a price-to-earnings 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 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 12.40% and a return on equity of 16.80%. The business had revenue of $15.97 million during the quarter.

Insiders Place Their Bets

In related news, major shareholder Christopher Harborne sold 7,086 shares of Innovative Solutions and Support stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $11.17, for a total transaction of $79,150.62. Following the transaction, the insider now owns 2,417,771 shares of the company’s stock, valued at $27,006,502.07. The trade was a 0.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders sold 263,623 shares of company stock valued at $2,911,665. Corporate insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Innovative Solutions and Support

A number of hedge funds have recently made changes to their positions in ISSC. Renaissance Technologies LLC grew its position in Innovative Solutions and Support by 18.5% during the fourth quarter. Renaissance Technologies LLC now owns 480,659 shares of the aerospace company’s stock valued at $4,105,000 after buying an additional 75,100 shares during the period. Dimensional Fund Advisors LP lifted its stake in Innovative Solutions and Support by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 432,030 shares of the aerospace company’s stock valued at $3,690,000 after purchasing an additional 10,061 shares during the last quarter. Isthmus Partners LLC grew its holdings in Innovative Solutions and Support by 17.9% during the fourth quarter. Isthmus Partners LLC now owns 190,460 shares of the aerospace company’s stock valued at $1,627,000 after purchasing an additional 28,882 shares during the period. Marshall Wace LLP purchased a new stake in Innovative Solutions and Support in the fourth quarter worth $1,283,000. Finally, Geode Capital Management LLC raised its stake in shares of Innovative Solutions and Support by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 125,592 shares of the aerospace company’s stock valued at $1,073,000 after buying an additional 3,835 shares during the period. 28.53% of the stock is currently owned by institutional investors.

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.