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

Key Points

• Short interest in Innovative Solutions and Support, Inc. rose by 191.8% in August, reaching a total of 647,600 shares, indicating increasing bearish sentiment among investors.
• Analyst ratings show a mixed sentiment, with one rating of Strong Buy and another downgrade from buy to hold, leading to an average rating of Strong Buy.
• Major shareholder Christopher Harborne sold 145,009 shares in June, which marks an 8.39% decrease in his position, amidst significant insider selling over the last three months.

Innovative Solutions and Support, Inc. (NASDAQ:ISSC - Get Free Report) was the target of a large increase in short interest in the month of August. As of August 15th, there was short interest totaling 647,600 shares, anincreaseof191.8% 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. Currently,4.2% of the company's stock are short sold. Currently,4.2% of the company's stock are short sold. Based on an average daily volume of 567,700 shares, the days-to-cover ratio is presently 1.1 days.

Analyst Ratings Changes

A number of research firms have recently commented on ISSC. Singular Research upgraded Innovative Solutions and Support to a "strong-buy" rating in a research note on Friday, May 16th. Wall Street Zen cut Innovative Solutions and Support from a "buy" rating to a "hold" rating in a research note on Sunday, August 24th. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Strong Buy".

Insider Transactions at Innovative Solutions and Support

In other Innovative Solutions and Support news, major shareholder Christopher Harborne sold 145,009 shares of Innovative Solutions and Support stock in a transaction on Monday, June 30th. The shares were sold at an average price of $13.69, for a total transaction of $1,985,173.21. Following the transaction, the insider directly owned 1,583,411 shares of the company's stock, valued at $21,676,896.59. The trade was a 8.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 632,787 shares of company stock valued at $8,166,430. Company insiders own 4.40% of the company's stock.

Institutional Investors Weigh In On Innovative Solutions and Support

Hedge funds and other institutional investors have recently modified their holdings of the stock. American Century Companies Inc. bought a new stake in shares of Innovative Solutions and Support during the first quarter valued at about $64,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Innovative Solutions and Support during the fourth quarter valued at about $89,000. Meixler Investment Management Ltd. increased its position in shares of Innovative Solutions and Support by 31.4% during the second quarter. Meixler Investment Management Ltd. now owns 15,275 shares of the aerospace company's stock valued at $212,000 after buying an additional 3,650 shares during the period. J.W. Cole Advisors Inc. increased its position in shares of Innovative Solutions and Support by 12.4% during the second quarter. J.W. Cole Advisors Inc. now owns 15,360 shares of the aerospace company's stock valued at $213,000 after buying an additional 1,700 shares during the period. Finally, Jump Financial LLC bought a new stake in shares of Innovative Solutions and Support during the second quarter valued at about $224,000. 28.53% of the stock is currently owned by institutional investors.

Innovative Solutions and Support Trading Up 0.3%

Shares of Innovative Solutions and Support stock opened at $12.15 on Thursday. Innovative Solutions and Support has a 52-week low of $5.30 and a 52-week high of $20.00. The stock's 50-day simple moving average is $14.82 and its 200 day simple moving average is $10.50. The stock has a market capitalization of $214.19 million, a P/E ratio of 18.30 and a beta of 0.80. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.69 and a current ratio of 3.53.

Innovative Solutions and Support (NASDAQ:ISSC - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The aerospace company reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($0.02). Innovative Solutions and Support had a net margin of 15.10% and a return on equity of 23.86%. The firm had revenue of $24.15 million during the quarter, compared to the consensus estimate of $19.20 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.

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