Formula Systems (1985) Ltd. (NASDAQ:FORTY) Short Interest Update

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

Formula Systems (1985) Stock Performance

Shares of NASDAQ:FORTY remained flat at $128.20 during midday trading on Tuesday. The stock had a trading volume of 46 shares, compared to its average volume of 333. Formula Systems has a 1-year low of $82.52 and a 1-year high of $190.56. The company has a current ratio of 1.60, a quick ratio of 1.58 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.97 billion, a PE ratio of 28.24 and a beta of 1.12. The business has a 50 day moving average of $146.99 and a two-hundred day moving average of $149.21.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

Hedge Funds Weigh In On Formula Systems (1985)

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new stake in Formula Systems (1985) during the 2nd quarter worth approximately $73,000. Elevation Point Wealth Partners LLC acquired a new stake in Formula Systems (1985) during the 2nd quarter worth approximately $222,000. CX Institutional bought a new position in Formula Systems (1985) in the third quarter valued at approximately $398,000. GHP Investment Advisors Inc. boosted its holdings in shares of 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 buying an additional 755 shares during the period. Finally, Altshuler Shaham Ltd boosted its holdings in shares of Formula Systems (1985) by 30.8% in the fourth quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company’s stock valued at $1,182,000 after buying an additional 1,650 shares during the period. Institutional investors own 34.76% of the company’s stock.

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.