Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Sees Significant Increase in Short Interest

Innovative Solutions and Support, Inc. (NASDAQ:ISSC) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 68,600 shares, an increase of 29.7% from the December 15th total of 52,900 shares. Currently, 0.6% of the company’s stock are short sold. Based on an average daily volume of 98,200 shares, the days-to-cover ratio is presently 0.7 days.

Innovative Solutions and Support Stock Up 1.2 %

ISSC traded up $0.12 during trading on Friday, hitting $10.29. 283,435 shares of the company’s stock traded hands, compared to its average volume of 178,393. The stock has a market capitalization of $180.49 million, a price-to-earnings ratio of 25.73 and a beta of 1.00. The company has a current ratio of 4.77, a quick ratio of 3.02 and a debt-to-equity ratio of 0.60. Innovative Solutions and Support has a 12-month low of $4.91 and a 12-month high of $10.50. The company’s 50 day simple moving average is $8.11 and its two-hundred day simple moving average is $7.13.

Innovative Solutions and Support (NASDAQ:ISSC) last posted its earnings results on Thursday, December 19th. The aerospace company reported $0.21 earnings per share (EPS) for the quarter. Innovative Solutions and Support had a net margin of 14.83% and a return on equity of 18.32%.

Institutional Investors Weigh In On Innovative Solutions and Support

A number of hedge funds have recently added to or reduced their stakes in ISSC. Dimensional Fund Advisors LP grew its holdings in shares of Innovative Solutions and Support by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 418,119 shares of the aerospace company’s stock worth $2,509,000 after acquiring an additional 8,760 shares during the period. Gabelli Funds LLC grew its stake in shares of Innovative Solutions and Support by 42.2% during the 2nd quarter. Gabelli Funds LLC now owns 62,585 shares of the aerospace company’s stock valued at $376,000 after purchasing an additional 18,585 shares during the period. James Investment Research Inc. purchased a new stake in shares of Innovative Solutions and Support during the 3rd quarter valued at about $68,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Innovative Solutions and Support by 29.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 44,040 shares of the aerospace company’s stock worth $287,000 after purchasing an additional 9,888 shares during the period. Finally, Pekin Hardy Strauss Inc. bought a new position in shares of Innovative Solutions and Support in the 3rd quarter worth approximately $466,000. 28.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Innovative Solutions and Support from a “strong-buy” rating to a “buy” rating in a research note on Sunday, January 5th.

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.