Short Interest in Formula Systems (1985) Ltd. (NASDAQ:FORTY) Rises By 440.0%

Formula Systems (1985) Ltd. (NASDAQ:FORTY) saw a significant growth in short interest in the month of February. As of February 13th, there was short interest totaling 54 shares, a growth of 440.0% from the January 29th total of 10 shares. Based on an average trading volume of 385 shares, the days-to-cover ratio is currently 0.1 days. Based on an average trading volume of 385 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in shares of Formula Systems (1985) during the 2nd quarter valued at about $73,000. GHP Investment Advisors Inc. boosted its holdings in Formula Systems (1985) by 10.8% in the 3rd 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 during the last quarter. Altshuler Shaham Ltd grew its stake 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 valued at $1,182,000 after buying an additional 1,650 shares during the period. Elevation Point Wealth Partners LLC purchased a new stake in shares of Formula Systems (1985) in the 2nd quarter valued at approximately $222,000. Finally, CX Institutional acquired a new stake in shares of Formula Systems (1985) during the 3rd quarter worth approximately $398,000. Hedge funds and other institutional investors own 34.76% of the company’s stock.

Formula Systems (1985) Stock Performance

FORTY traded up $1.16 during trading on Wednesday, reaching $121.86. The company’s stock had a trading volume of 421 shares, compared to its average volume of 307. The firm has a fifty day simple moving average of $156.75 and a two-hundred day simple moving average of $148.95. 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.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Formula Systems (1985) in a research note on Monday, December 29th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Formula Systems (1985) has a consensus 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.