Innovative Solutions and Support, Inc. (NASDAQ:ISSC - Get Free Report) was the target of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 98,900 shares, a growth of 38.1% from the January 15th total of 71,600 shares. Based on an average daily trading volume, of 170,900 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.8% of the company's stock are short sold.
Analyst Upgrades and Downgrades
Separately, StockNews.com upgraded Innovative Solutions and Support from a "hold" rating to a "buy" rating in a research note on Monday.
Get Our Latest Stock Report on Innovative Solutions and Support
Insider Activity at Innovative Solutions and Support
In related news, major shareholder Christopher Harborne sold 98,600 shares of the business's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $10.82, for a total transaction of $1,066,852.00. Following the transaction, the insider now directly owns 2,501,169 shares in the company, valued at approximately $27,062,648.58. The trade was a 3.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders sold 263,623 shares of company stock valued at $2,911,665. 3.70% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of ISSC. James Investment Research Inc. bought a new stake in shares of Innovative Solutions and Support in the 3rd quarter worth approximately $68,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Innovative Solutions and Support by 29.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 44,040 shares of the aerospace company's stock valued at $287,000 after buying an additional 9,888 shares during the period. Pekin Hardy Strauss Inc. purchased a new position in shares of Innovative Solutions and Support during the 3rd quarter valued at $466,000. Corsair Capital Management L.P. purchased a new position in shares of Innovative Solutions and Support during the 3rd quarter valued at $155,000. Finally, Barclays PLC bought a new position in shares of Innovative Solutions and Support during the 3rd quarter worth $32,000. 28.53% of the stock is owned by institutional investors.
Innovative Solutions and Support Stock Performance
NASDAQ:ISSC traded down $0.36 during trading on Tuesday, reaching $8.27. The company's stock had a trading volume of 536,366 shares, compared to its average volume of 299,460. Innovative Solutions and Support has a 12 month low of $4.91 and a 12 month high of $12.17. The firm has a market cap of $145.05 million, a price-to-earnings ratio of 20.68 and a beta of 1.03. The firm has a 50 day moving average of $9.43 and a 200-day moving average of $7.89. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.02 and a current ratio of 4.77.
Innovative Solutions and Support (NASDAQ:ISSC - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The aerospace company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.11). Innovative Solutions and Support had a net margin of 14.83% and a return on equity of 18.32%. The company had revenue of $15.97 million for the quarter.
About Innovative Solutions and Support
(
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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.
Further Reading
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