Innovative Solutions & Support Inc (NASDAQ:ISSC) was the recipient 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. Approximately 0.5% of the company’s stock are short sold. Based on an average daily volume of 26,100 shares, the short-interest ratio is currently 2.4 days.
ISSC traded up $0.03 on Friday, reaching $4.63. The company’s stock had a trading volume of 4,600 shares, compared to its average volume of 19,972. Innovative Solutions & Support has a 1 year low of $2.02 and a 1 year high of $5.25. The firm has a 50 day moving average of $4.52.
Innovative Solutions & Support (NASDAQ:ISSC) last issued its quarterly earnings results on Wednesday, May 8th. The aerospace company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The business had revenue of $4.20 million during the quarter. Innovative Solutions & Support had a negative net margin of 7.31% and a negative return on equity of 3.24%.
ISSC has been the subject of a number of analyst reports. TheStreet downgraded Trade Desk from a “b-” rating to a “c-” rating in a report on Thursday, May 9th. ValuEngine downgraded Universal Electronics from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 6th.
In related news, Director Glen R. Bressner sold 24,000 shares of the stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $4.64, for a total value of $111,360.00. Following the completion of the transaction, the director now owns 106,498 shares of the company’s stock, valued at $494,150.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 27.70% of the company’s stock.
A hedge fund recently raised its stake in Innovative Solutions & Support stock. WealthTrust Axiom LLC grew its position in shares of Innovative Solutions & Support Inc (NASDAQ:ISSC) by 0.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,417,199 shares of the aerospace company’s stock after buying an additional 7,025 shares during the period. Innovative Solutions & Support comprises 1.5% of WealthTrust Axiom LLC’s portfolio, making the stock its 17th largest position. WealthTrust Axiom LLC owned 8.38% of Innovative Solutions & Support worth $4,265,000 at the end of the most recent quarter. 23.87% of the stock is currently owned by hedge funds and other institutional investors.
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.
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