Short Interest in Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Rises By 96.9%

Innovative Solutions and Support, Inc. (NASDAQ:ISSC) saw a large increase in short interest in June. As of June 30th, there was short interest totaling 715,093 shares, an increase of 96.9% from the June 15th total of 363,156 shares. Based on an average daily trading volume, of 574,347 shares, the short-interest ratio is currently 1.2 days. Approximately 4.2% of the company’s stock are sold short.

Hedge Funds Weigh In On Innovative Solutions and Support

A number of hedge funds have recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. lifted its stake in Innovative Solutions and Support by 30.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 186,853 shares of the aerospace company’s stock valued at $3,363,000 after acquiring an additional 43,553 shares during the period. Royal Bank of Canada grew its stake in shares of Innovative Solutions and Support by 496.6% in the first quarter. Royal Bank of Canada now owns 7,619 shares of the aerospace company’s stock worth $156,000 after acquiring an additional 6,342 shares during the period. Empowered Funds LLC purchased a new position in shares of Innovative Solutions and Support during the first quarter valued at approximately $321,000. Lazard Asset Management LLC raised its holdings in shares of Innovative Solutions and Support by 8.8% during the first quarter. Lazard Asset Management LLC now owns 111,619 shares of the aerospace company’s stock valued at $2,292,000 after purchasing an additional 9,000 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in Innovative Solutions and Support by 12.6% during the first quarter. Renaissance Technologies LLC now owns 302,893 shares of the aerospace company’s stock valued at $6,218,000 after purchasing an additional 33,800 shares during the period. Hedge funds and other institutional investors own 28.53% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ISSC. Zacks Research cut Innovative Solutions and Support from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Weiss Ratings downgraded shares of Innovative Solutions and Support from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, June 12th. Finally, Wall Street Zen lowered shares of Innovative Solutions and Support from a “buy” rating to a “hold” rating in a research note on Saturday, May 23rd. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Innovative Solutions and Support currently has an average rating of “Buy” and a consensus target price of $16.25.

Innovative Solutions and Support Stock Performance

Shares of ISSC opened at $18.46 on Friday. The company has a market cap of $330.25 million, a price-to-earnings ratio of 19.64 and a beta of 0.60. The business’s fifty day simple moving average is $17.66 and its two-hundred day simple moving average is $20.89. Innovative Solutions and Support has a 12 month low of $8.13 and a 12 month high of $30.94. The company has a current ratio of 3.23, a quick ratio of 1.53 and a debt-to-equity ratio of 0.68.

Innovative Solutions and Support (NASDAQ:ISSC) last posted its quarterly earnings results on Thursday, May 14th. The aerospace company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.06. Innovative Solutions and Support had a return on equity of 27.52% and a net margin of 18.82%.The firm had revenue of $22.37 million during the quarter, compared to analysts’ expectations of $21.59 million. Research analysts anticipate that Innovative Solutions and Support will post 0.97 earnings per share for the current fiscal year.

Innovative Solutions and Support Company Profile

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.