Formula Systems (1985) Ltd. (NASDAQ:FORTY) Short Interest Up 5,900.0% in April

Formula Systems (1985) Ltd. (NASDAQ:FORTY) was the recipient of a large growth in short interest during the month of April. As of April 15th, there was short interest totaling 120 shares, a growth of 5,900.0% from the March 31st total of 2 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily trading volume, of 409 shares, the short-interest ratio is currently 0.3 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FORTY. Raymond James Financial Inc. purchased a new stake in shares of Formula Systems (1985) in the second quarter valued at about $73,000. 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 acquiring an additional 755 shares in the last quarter. 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 acquiring an additional 1,650 shares in the last quarter. Finally, CX Institutional purchased a new stake in shares of Formula Systems (1985) in the third quarter valued at about $398,000. 34.76% of the stock is owned by hedge funds and other institutional investors.

Formula Systems (1985) Stock Performance

Formula Systems (1985) stock traded up $5.50 during midday trading on Friday, hitting $141.00. 292 shares of the company’s stock were exchanged, compared to its average volume of 567. Formula Systems has a 12-month low of $85.30 and a 12-month high of $190.56. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.61 and a current ratio of 1.63. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 3.68 and a beta of 1.10. The firm’s 50 day simple moving average is $124.77 and its 200 day simple moving average is $147.04.

Formula Systems (1985) (NASDAQ:FORTY) last issued its quarterly earnings data on Thursday, March 26th. The technology company reported $35.03 earnings per share (EPS) for the quarter. Formula Systems (1985) had a net margin of 20.89% and a return on equity of 3.24%. The company had revenue of $708.38 million for the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Friday, March 27th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently 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.