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

Innovative Solutions and Support, Inc. (NASDAQ:ISSC - Get Free Report) saw a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 88,300 shares, a drop of 18.7% from the February 13th total of 108,600 shares. Based on an average daily volume of 235,800 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.7% of the shares of the company are short sold.

Innovative Solutions and Support Stock Performance

Shares of Innovative Solutions and Support stock traded down $0.33 on Friday, hitting $6.65. 79,277 shares of the company's stock were exchanged, compared to its average volume of 96,762. The company has a 50-day simple moving average of $8.89 and a 200-day simple moving average of $7.92. The stock has a market capitalization of $116.67 million, a PE ratio of 17.50 and a beta of 1.13. Innovative Solutions and Support has a 1 year low of $4.91 and a 1 year high of $12.17. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.02 and a current ratio of 5.22.

Innovative Solutions and Support (NASDAQ:ISSC - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The aerospace company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.11). The firm had revenue of $15.97 million for the quarter. Innovative Solutions and Support had a net margin of 12.40% and a return on equity of 16.80%.

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Insider Buying and Selling

In other news, major shareholder Christopher Harborne sold 10,000 shares of Innovative Solutions and Support stock in a transaction on Friday, January 17th. The shares were sold at an average price of $10.16, for a total transaction of $101,600.00. Following the transaction, the insider now owns 2,599,769 shares in the company, valued at $26,413,653.04. This trade represents a 0.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 263,623 shares of company stock worth $2,911,665. 4.40% of the stock is owned by insiders.

Institutional Trading of Innovative Solutions and Support

Several institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC raised its position in shares of Innovative Solutions and Support by 18.5% during the 4th quarter. Renaissance Technologies LLC now owns 480,659 shares of the aerospace company's stock valued at $4,105,000 after purchasing an additional 75,100 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Innovative Solutions and Support by 2.4% during the 4th 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 period. Isthmus Partners LLC raised its position in shares of Innovative Solutions and Support by 17.9% during the 4th 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 bought a new stake in shares of Innovative Solutions and Support during the 4th quarter valued at $1,283,000. Finally, Geode Capital Management LLC raised its position in shares of Innovative Solutions and Support by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 125,592 shares of the aerospace company's stock valued at $1,073,000 after purchasing an additional 3,835 shares during the period. 28.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

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.