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

Innovative Solutions and Support, Inc. (NASDAQ:ISSC - Get Free Report) was the recipient of a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 178,900 shares, a growth of 43.1% from the April 30th total of 125,000 shares. Based on an average daily volume of 144,300 shares, the days-to-cover ratio is currently 1.2 days. Currently, 1.4% of the company's stock are short sold.

Analyst Ratings Changes

ISSC has been the subject of several research analyst reports. Wall Street Zen raised Innovative Solutions and Support from a "hold" rating to a "buy" rating in a report on Wednesday, May 21st. Singular Research raised Innovative Solutions and Support to a "strong-buy" rating in a report on Friday, May 16th.

Insider Transactions at Innovative Solutions and Support

In related news, major shareholder Christopher Harborne sold 43,997 shares of Innovative Solutions and Support stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $11.67, for a total value of $513,444.99. Following the completion of the sale, the insider now owns 2,228,142 shares of the company's stock, valued at $26,002,417.14. The trade was a 1.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 68,503 shares of company stock worth $795,441 over the last quarter. 4.40% of the stock is currently owned by insiders.

Institutional Trading of Innovative Solutions and Support

Several hedge funds have recently bought and sold shares of ISSC. American Century Companies Inc. bought a new position in shares of Innovative Solutions and Support in the first quarter worth about $64,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Innovative Solutions and Support in the fourth quarter worth about $89,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Innovative Solutions and Support in the fourth quarter worth about $107,000. Sterneck Capital Management LLC bought a new position in shares of Innovative Solutions and Support in the first quarter worth about $112,000. Finally, XTX Topco Ltd bought a new position in shares of Innovative Solutions and Support in the fourth quarter worth about $119,000. Institutional investors own 28.53% of the company's stock.

Innovative Solutions and Support Stock Performance

NASDAQ:ISSC traded down $0.27 during mid-day trading on Thursday, hitting $11.69. 140,430 shares of the company traded hands, compared to its average volume of 116,937. The stock's fifty day moving average price is $7.78 and its 200-day moving average price is $8.18. Innovative Solutions and Support has a one year low of $5.25 and a one year 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 cap of $205.79 million, a price-to-earnings ratio of 30.76 and a beta of 0.69.

Innovative Solutions and Support (NASDAQ:ISSC - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The aerospace company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.18. Innovative Solutions and Support had a return on equity of 16.80% and a net margin of 12.40%. The business had revenue of $21.94 million during the quarter, compared to analyst estimates of $15.37 million.

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.