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

Innovative Solutions and Support, Inc. (NASDAQ:ISSC) was the recipient of 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. Based on an average daily trading volume, of 567,700 shares, the short-interest ratio is presently 1.1 days. Approximately4.2% of the shares of the company are short sold. Approximately4.2% of the shares of the company are short sold. Based on an average daily trading volume, of 567,700 shares, the short-interest ratio is presently 1.1 days.

Insiders Place Their Bets

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 stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 597,350 shares of company stock worth $7,749,690 in the last 90 days. 4.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ISSC. Arrowstreet Capital Limited Partnership raised its position in Innovative Solutions and Support by 415.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 157,250 shares of the aerospace company’s stock valued at $2,183,000 after purchasing an additional 126,729 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Innovative Solutions and Support by 48.9% in the 2nd quarter. Marshall Wace LLP now owns 289,827 shares of the aerospace company’s stock worth $4,023,000 after purchasing an additional 95,178 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Innovative Solutions and Support by 155.3% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 145,389 shares of the aerospace company’s stock worth $2,018,000 after buying an additional 88,442 shares during the last quarter. Punch & Associates Investment Management Inc. boosted its stake in shares of Innovative Solutions and Support by 68.0% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 210,000 shares of the aerospace company’s stock worth $1,321,000 after buying an additional 85,000 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its position in Innovative Solutions and Support by 104.1% during the second quarter. Raymond James Financial Inc. now owns 164,479 shares of the aerospace company’s stock valued at $2,283,000 after purchasing an additional 83,894 shares in the last quarter. Hedge funds and other institutional investors own 28.53% of the company’s stock.

Innovative Solutions and Support Stock Performance

Shares of NASDAQ ISSC opened at $11.62 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.53 and a quick ratio of 1.69. The stock’s fifty day moving average price is $14.75 and its two-hundred day moving average price is $10.55. Innovative Solutions and Support has a one year low of $5.30 and a one year high of $20.00. The firm has a market cap of $204.86 million, a price-to-earnings ratio of 17.61 and a beta of 0.80.

Innovative Solutions and Support (NASDAQ:ISSC) 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 company had revenue of $24.15 million for the quarter, compared to analyst estimates of $19.20 million. Innovative Solutions and Support had a return on equity of 23.86% and a net margin of 15.10%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports 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 equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Strong Buy”.

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.