Formula Systems (1985) Ltd. (NASDAQ:FORTY) Short Interest Up 11,950.0% in March

Formula Systems (1985) Ltd. (NASDAQ:FORTY) was the recipient of a large 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. Based on an average daily volume of 286 shares, the days-to-cover ratio is currently 0.8 days. Approximately 0.0% of the shares of the company are sold short. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 286 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Elevation Point Wealth Partners LLC acquired a new position in shares of Formula Systems (1985) during the second quarter worth approximately $222,000. CX Institutional acquired a new stake in shares of Formula Systems (1985) in the third quarter worth $398,000. GHP Investment Advisors Inc. increased its position in Formula Systems (1985) by 10.8% during the third 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 during the period. Raymond James Financial Inc. bought a new position in Formula Systems (1985) during the second quarter worth $73,000. Finally, Altshuler Shaham Ltd raised its stake in Formula Systems (1985) by 30.8% during the 4th quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company’s stock valued at $1,182,000 after purchasing an additional 1,650 shares during the last quarter. 34.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Formula Systems (1985) Trading Down 1.1%

Shares of NASDAQ:FORTY opened at $125.00 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.58 and a current ratio of 1.60. The stock’s 50-day moving average is $138.31 and its 200-day moving average is $149.17. The company has a market cap of $1.92 billion, a P/E ratio of 27.53 and a beta of 1.12. Formula Systems has a 52-week low of $82.52 and a 52-week high of $190.56.

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.