Formula Systems (1985) Ltd. (NASDAQ:FORTY) Sees Large Decrease in Short Interest

Formula Systems (1985) Ltd. (NASDAQ:FORTY) was the target of a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 1,800 shares, a drop of 28.0% from the February 13th total of 2,500 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily volume of 600 shares, the days-to-cover ratio is presently 3.0 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Formula Systems (1985) stock. Jane Street Group LLC purchased a new stake in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 2,772 shares of the technology company’s stock, valued at approximately $222,000. Institutional investors own 34.76% of the company’s stock.

Formula Systems (1985) Price Performance

NASDAQ FORTY traded down $0.11 during trading hours on Friday, hitting $97.14. The company had a trading volume of 146 shares, compared to its average volume of 784. Formula Systems has a 52 week low of $69.07 and a 52 week high of $100.00. The firm has a 50 day simple moving average of $92.17 and a 200 day simple moving average of $86.27. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.41. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 20.15 and a beta of 1.10.

About Formula Systems (1985)

Formula Systems (1985) Ltd., through its subsidiaries, provides proprietary and non-proprietary software solutions, IT professional services, software product marketing and support, computer infrastructure and integration solutions, and learning and integration worldwide. The company offers computer and telecommunication infrastructure solutions; and sells and markets computers and peripheral equipment, and cloud based solutions and services relating to databases and big data.