Intelligent Systems Co. (NYSEAMERICAN:INS) saw a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 1,010,000 shares, a growth of 5.4% from the August 30th total of 958,200 shares. Currently, 18.5% of the company’s shares are short sold. Based on an average daily trading volume, of 121,800 shares, the days-to-cover ratio is presently 8.3 days.
Separately, Sidoti started coverage on Intelligent Systems in a research note on Wednesday, October 9th. They issued a “buy” rating for the company.
A number of hedge funds have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Intelligent Systems by 313.1% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,751 shares of the industrial products company’s stock valued at $79,000 after acquiring an additional 2,085 shares during the last quarter. Paloma Partners Management Co bought a new stake in Intelligent Systems in the second quarter valued at approximately $497,000. Vanguard Group Inc. boosted its holdings in Intelligent Systems by 68.4% in the second quarter. Vanguard Group Inc. now owns 175,690 shares of the industrial products company’s stock valued at $5,058,000 after acquiring an additional 71,385 shares during the last quarter. A.R.T. Advisors LLC bought a new stake in Intelligent Systems in the second quarter valued at approximately $355,000. Finally, BlackRock Inc. boosted its holdings in Intelligent Systems by 1,169.5% in the second quarter. BlackRock Inc. now owns 436,463 shares of the industrial products company’s stock valued at $12,565,000 after acquiring an additional 402,082 shares during the last quarter.
Intelligent Systems (NYSEAMERICAN:INS) last released its quarterly earnings data on Monday, August 5th. The industrial products company reported $0.23 earnings per share (EPS) for the quarter. The firm had revenue of $7.51 million during the quarter.
About Intelligent Systems
Intelligent Systems Corporation, through its subsidiary, CoreCard Software, Inc, provides technology solutions and processing services to the financial technology and services market in the United States and European Union. The company designs, develops, and markets a suite of software solutions to accounts receivable businesses, financial institutions, retailers, and processors.
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