Short Interest in Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Grows By 26.4%
by Mitch Edgeman · The Markets DailyInnovative Solutions and Support, Inc. (NASDAQ:ISSC – Get Free Report) saw a large growth in short interest in March. As of March 13th, there was short interest totaling 834,320 shares, a growth of 26.4% from the February 26th total of 660,079 shares. Based on an average daily trading volume, of 871,547 shares, the short-interest ratio is presently 1.0 days. Approximately 5.0% of the shares of the stock are sold short.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in ISSC. Stifel Financial Corp purchased a new stake in shares of Innovative Solutions and Support in the 4th quarter valued at approximately $5,529,000. Punch & Associates Investment Management Inc. grew its position in Innovative Solutions and Support by 94.1% during the 4th quarter. Punch & Associates Investment Management Inc. now owns 595,174 shares of the aerospace company’s stock worth $11,273,000 after purchasing an additional 288,479 shares in the last quarter. Marshall Wace LLP grew its position in Innovative Solutions and Support by 57.4% during the 4th quarter. Marshall Wace LLP now owns 754,488 shares of the aerospace company’s stock worth $14,290,000 after purchasing an additional 275,286 shares in the last quarter. Millennium Management LLC raised its stake in Innovative Solutions and Support by 1,234.9% during the 4th quarter. Millennium Management LLC now owns 280,579 shares of the aerospace company’s stock valued at $5,314,000 after purchasing an additional 259,561 shares during the period. Finally, Palisades Investment Partners LLC acquired a new stake in Innovative Solutions and Support during the 3rd quarter valued at $2,927,000. 28.53% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts recently weighed in on the company. JonesTrading raised Innovative Solutions and Support to a “strong-buy” rating in a research note on Monday, January 5th. Wall Street Zen raised shares of Innovative Solutions and Support from a “hold” rating to a “buy” rating in a report on Saturday. Zacks Research raised shares of Innovative Solutions and Support from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 24th. Craig Hallum began coverage on shares of Innovative Solutions and Support in a research note on Friday, December 5th. They issued a “buy” rating and a $16.00 price objective on the stock. Finally, Weiss Ratings upgraded shares of Innovative Solutions and Support from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Four equities research analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to data from MarketBeat.com, Innovative Solutions and Support presently has a consensus rating of “Strong Buy” and a consensus price target of $16.25.
Check Out Our Latest Stock Analysis on ISSC
Innovative Solutions and Support Price Performance
Shares of NASDAQ ISSC traded down $1.74 during mid-day trading on Monday, reaching $19.76. The company had a trading volume of 431,152 shares, compared to its average volume of 629,162. The company has a 50-day moving average price of $23.98 and a two-hundred day moving average price of $16.60. The stock has a market cap of $351.28 million, a PE ratio of 18.83 and a beta of 0.57. The company has a current ratio of 2.96, a quick ratio of 1.53 and a debt-to-equity ratio of 0.31. Innovative Solutions and Support has a 1-year low of $5.30 and a 1-year high of $30.94.
Innovative Solutions and Support (NASDAQ:ISSC – Get Free Report) last announced its earnings results on Thursday, February 12th. The aerospace company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.10 by $0.15. The business had revenue of $21.81 million during the quarter, compared to the consensus estimate of $18.82 million. Innovative Solutions and Support had a return on equity of 30.44% and a net margin of 21.02%.
About Innovative Solutions and Support
Innovative Solutions and Support, Inc (NASDAQ: ISSC) is a provider of technology solutions and mission support services to U.S. federal government agencies, with a focus on defense, intelligence, and national security programs. The company delivers integrated program management, systems engineering, and advanced IT infrastructure support designed to enhance operational readiness and maintain secure, scalable environments for mission-critical operations.
Its core service offerings include systems integration, custom software development, data analytics, cybersecurity, and logistics management.