Formula Systems (1985) Ltd. (NASDAQ:FORTY) Short Interest Down 96.3% in February

Formula Systems (1985) Ltd. (NASDAQ:FORTY) was the recipient of a large drop in short interest in the month of February. As of February 27th, there was short interest totaling 2 shares, a drop of 96.3% from the February 12th total of 54 shares. Based on an average daily volume of 226 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the company’s stock are short sold. Approximately 0.0% of the company’s stock are short sold. Based on an average daily volume of 226 shares, the days-to-cover ratio is currently 0.0 days.

Formula Systems (1985) Stock Performance

Formula Systems (1985) stock remained flat at $126.00 during mid-day trading on Thursday. 466 shares of the company were exchanged, compared to its average volume of 307. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.60 and a quick ratio of 1.58. Formula Systems has a 1-year low of $82.52 and a 1-year high of $190.56. The firm’s 50 day simple moving average is $146.05 and its 200 day simple moving average is $149.04. The stock has a market cap of $1.93 billion, a P/E ratio of 27.75 and a beta of 1.12.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold”.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. GHP Investment Advisors Inc. grew its stake in Formula Systems (1985) by 10.8% in the third quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock valued at $1,082,000 after purchasing an additional 755 shares in the last quarter. Altshuler Shaham Ltd raised its stake in shares of Formula Systems (1985) by 30.8% during the 4th quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company’s stock worth $1,182,000 after purchasing an additional 1,650 shares in the last quarter. CX Institutional acquired a new stake in shares of Formula Systems (1985) in the 3rd quarter valued at approximately $398,000. Elevation Point Wealth Partners LLC bought a new position in shares of Formula Systems (1985) in the second quarter valued at $222,000. Finally, Raymond James Financial Inc. bought a new position in shares of Formula Systems (1985) in the second quarter valued at $73,000. 34.76% of the stock is owned by institutional investors and hedge funds.

About Formula Systems (1985)

Formula Systems (1985) Ltd is an Israeli publicly traded holding company specializing in the software and information technology sectors. Founded in 1985 and listed on NASDAQ under the ticker FORTY, the company focuses on acquiring, investing in and developing independent software firms. Its core mission is to foster innovation in enterprise software, cybersecurity and digital transformation solutions.

The company’s principal activities center on holding controlling and significant equity stakes in several market-leading software enterprises.