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

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) saw a significant growth in short interest in August. As of August 15th, there was short interest totaling 647,600 shares, agrowthof191.8% from the July 31st total of 221,900 shares. Currently,4.2% of the shares of the stock are short sold. Based on an average trading volume of 567,700 shares, the short-interest ratio is currently 1.1 days. Based on an average trading volume of 567,700 shares, the short-interest ratio is currently 1.1 days. Currently,4.2% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ISSC. Wall Street Zen cut shares of Innovative Solutions and Support from a "buy" rating to a "hold" rating in a research note on Sunday, August 24th. Singular Research raised shares of Innovative Solutions and Support to a "strong-buy" rating in a research note on Friday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Strong Buy".

Insiders Place Their Bets

In related news, major shareholder Christopher Harborne sold 145,009 shares of the firm's 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 completion of the transaction, the insider directly owned 1,583,411 shares of the company's stock, valued at approximately $21,676,896.59. This trade represents a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 533,320 shares of company stock worth $6,995,430 over the last three months. Company insiders own 4.40% of the company's stock.

Institutional Investors Weigh In On Innovative Solutions and Support

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ISSC. American Century Companies Inc. bought a new stake in Innovative Solutions and Support during the 1st quarter valued at about $64,000. Schonfeld Strategic Advisors LLC bought a new stake in Innovative Solutions and Support during the 4th quarter valued at about $89,000. Sterneck Capital Management LLC bought a new stake in Innovative Solutions and Support during the 1st quarter valued at about $112,000. Algert Global LLC bought a new stake in Innovative Solutions and Support during the 1st quarter valued at about $152,000. Finally, Meixler Investment Management Ltd. lifted its holdings in Innovative Solutions and Support by 31.4% during the 2nd 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 in the last quarter. Institutional investors own 28.53% of the company's stock.

Innovative Solutions and Support Trading Down 2.1%

Shares of Innovative Solutions and Support stock traded down $0.24 during trading on Tuesday, hitting $11.15. The stock had a trading volume of 290,069 shares, compared to its average volume of 356,856. The firm's fifty day simple moving average is $14.70 and its 200-day simple moving average is $10.60. The stock has a market cap of $196.52 million, a PE ratio of 16.92 and a beta of 0.80. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.53 and a quick ratio of 1.69. Innovative Solutions and Support has a 12 month low of $5.30 and a 12 month high of $20.00.

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

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.