Formula Systems (1985) Ltd. (NASDAQ:FORTY) Sees Significant Growth in Short Interest

Formula Systems (1985) Ltd. (NASDAQ:FORTY) was the recipient of a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 241 shares, an increase of 11,950.0% from the February 26th total of 2 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 286 shares, the short-interest ratio is presently 0.8 days.

Formula Systems (1985) Trading Down 2.4%

Shares of NASDAQ FORTY opened at $122.06 on Thursday. Formula Systems has a 1-year low of $82.52 and a 1-year high of $190.56. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.60 and a quick ratio of 1.58. The business’s 50 day moving average is $137.23 and its two-hundred day moving average is $148.98. The stock has a market capitalization of $1.87 billion, a P/E ratio of 26.89 and a beta of 1.12.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new position in Formula Systems (1985) in the second quarter worth about $73,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Formula Systems (1985) in the 2nd quarter valued at about $222,000. CX Institutional purchased a new position in shares of Formula Systems (1985) in the 3rd quarter worth approximately $398,000. Altshuler Shaham Ltd grew its position in shares of Formula Systems (1985) by 30.8% in the 4th quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company’s stock worth $1,182,000 after buying an additional 1,650 shares during the last quarter. Finally, GHP Investment Advisors Inc. raised its stake in shares of Formula Systems (1985) by 10.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock worth $1,082,000 after acquiring an additional 755 shares in the last quarter. 34.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated 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 data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Formula Systems (1985) Company Profile

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.