Innovative Solutions & Support Inc (NASDAQ:ISSC) Sees Significant Growth in Short Interest
Innovative Solutions & Support Inc (NASDAQ:ISSC) was the target of a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 62,000 shares, a growth of 31.1% from the May 30th total of 47,300 shares. Based on an average daily volume of 26,100 shares, the days-to-cover ratio is presently 2.4 days. Currently, 0.5% of the shares of the stock are sold short.
In other Innovative Solutions & Support news, Director Glen R. Bressner sold 24,000 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of $4.64, for a total transaction of $111,360.00. Following the completion of the transaction, the director now owns 106,498 shares in the company, valued at $494,150.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 27.70% of the stock is owned by company insiders.
A hedge fund recently raised its stake in Innovative Solutions & Support stock. WealthTrust Axiom LLC lifted its position in Innovative Solutions & Support Inc (NASDAQ:ISSC) by 0.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,417,199 shares of the aerospace company’s stock after acquiring an additional 7,025 shares during the quarter. Innovative Solutions & Support accounts for 1.5% of WealthTrust Axiom LLC’s portfolio, making the stock its 17th largest position. WealthTrust Axiom LLC owned about 8.38% of Innovative Solutions & Support worth $4,265,000 at the end of the most recent reporting period. Institutional investors own 23.87% of the company’s stock.
Innovative Solutions & Support (NASDAQ:ISSC) last released its quarterly earnings data on Wednesday, May 8th. The aerospace company reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.01). The business had revenue of $4.20 million for the quarter. Innovative Solutions & Support had a negative net margin of 7.31% and a negative return on equity of 3.24%.
Several research firms have commented on ISSC. TheStreet lowered shares of Trade Desk from a “b-” rating to a “c-” rating in a research report on Thursday, May 9th. ValuEngine lowered shares of Universal Electronics from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 6th.
About Innovative Solutions & Support
Innovative Solutions and Support, Inc, a systems integrator, designs, manufactures, sells, and services flight guidance and cockpit display systems. It offers flat panel display systems that could replicate the display of analog or digital displays on one screen and could replace existing displays in legacy aircraft, as well as used for security monitoring on-board aircraft and as tactical workstations on military aircraft; flight management systems that complement the IS&S flat panel display system upgrade for commercial air transport aircraft; and integrated standby units, which incorporate the measurement and display of attitude, altitude, airspeed, and navigation data into a single standby/backup navigation instrument for military, commercial air transport, and corporate/general aviation applications.
Further Reading: Fundamental Analysis – How It Helps Investors
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