Intelligent Systems Co. (NYSEAMERICAN:INS) Sees Significant Decline in Short Interest

Share on StockTwits

Intelligent Systems Co. (NYSEAMERICAN:INS) was the target of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 751,800 shares, a decrease of 25.6% from the September 30th total of 1,010,000 shares. Based on an average trading volume of 100,800 shares, the short-interest ratio is currently 7.5 days. Approximately 13.7% of the company’s shares are short sold.

Separately, Sidoti began coverage on shares of Intelligent Systems in a report on Wednesday, October 9th. They issued a “buy” rating on the stock.

NYSEAMERICAN INS opened at $42.38 on Thursday. Intelligent Systems has a one year low of $11.22 and a one year high of $56.24.

In related news, Director Philip H. Moise sold 5,469 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $42.77, for a total value of $233,909.13. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO J Leland Strange sold 4,326 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $45.14, for a total transaction of $195,275.64. Following the completion of the transaction, the chief executive officer now owns 1,883,188 shares in the company, valued at approximately $85,007,106.32. The disclosure for this sale can be found here.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. purchased a new position in Intelligent Systems in the second quarter valued at approximately $49,000. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Intelligent Systems by 313.1% during 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 purchasing an additional 2,085 shares in the last quarter. Wells Fargo & Company MN bought a new stake in shares of Intelligent Systems during the second quarter valued at about $101,000. Rhumbline Advisers bought a new stake in shares of Intelligent Systems during the third quarter valued at about $261,000. Finally, WINTON GROUP Ltd bought a new stake in shares of Intelligent Systems during the second quarter valued at about $221,000.

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.

Featured Story: What does it mean to hold a stock in street name?

Receive News & Ratings for Intelligent Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intelligent Systems and related companies with MarketBeat.com's FREE daily email newsletter.