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

Formula Systems (1985) Ltd. (NASDAQ:FORTY) was the target of a large decline in short interest in December. As of December 15th, there was short interest totalling 700 shares, a decline of 30.0% from the November 30th total of 1,000 shares. Based on an average trading volume of 400 shares, the days-to-cover ratio is currently 1.8 days.

Formula Systems (1985) Stock Performance

Shares of NASDAQ FORTY remained flat at $93.35 during midday trading on Friday. 27 shares of the stock were exchanged, compared to its average volume of 675. Formula Systems has a 1-year low of $60.39 and a 1-year high of $96.50. The stock’s 50-day simple moving average is $87.62 and its 200 day simple moving average is $80.17. The stock has a market capitalization of $1.43 billion, a P/E ratio of 19.37 and a beta of 1.08. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.41 and a quick ratio of 1.38.

Institutional Trading of Formula Systems (1985)

An institutional investor recently raised its position in Formula Systems (1985) stock. Altshuler Shaham Ltd boosted its stake in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 52.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,711 shares of the technology company’s stock after purchasing an additional 2,303 shares during the quarter. Altshuler Shaham Ltd’s holdings in Formula Systems (1985) were worth $478,000 at the end of the most recent reporting period. 34.76% of the stock is owned by hedge funds and other institutional investors.

Formula Systems (1985) Company Profile

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.