Formula Systems (FORTY, Financial) experienced a significant stock drop of 7.98%, trading at $81.90 per share. The trading volume was 807 shares with a turnover rate of 0.01% and a volatility of 2.02%. Recent financial reports reveal the company achieved $700 million in revenue, a net profit of $23.62 million, and earnings per share of $1.54, with a gross profit of $173 million and a P/E ratio of 16.96.
Currently, no institutional ratings are available for buying, holding, or selling the stock. The information technology services sector, where Formula Systems operates, saw an overall decline of 0.72%. Notable movers in the sector include significant gains by companies like Data Storage Corp and Tss, Inc., while Bigbear.Ai, Inc. and Castellum, Inc. remained active with substantial turnover rates.
Formula Systems is a holding company offering IT services through subsidiaries, with major revenue from Israel.
