FARO Technologies (NASDAQ:FARO) Reaches New 1-Year High - Time to Buy?

FARO Technologies, Inc. (NASDAQ:FARO - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The company traded as high as $30.10 and last traded at $29.49, with a volume of 33771 shares changing hands. The stock had previously closed at $28.65.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. StockNews.com raised shares of FARO Technologies from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, November 12th. Craig Hallum increased their price target on shares of FARO Technologies from $30.00 to $33.00 and gave the stock a "buy" rating in a report on Thursday, December 12th. Finally, Needham & Company LLC raised their price objective on shares of FARO Technologies from $24.00 to $26.00 and gave the company a "buy" rating in a research report on Thursday, November 7th.

FARO Technologies Stock Up 1.9 %

The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.83 and a current ratio of 2.17. The company has a market capitalization of $552.38 million, a PE ratio of -83.43 and a beta of 1.38. The firm's 50-day simple moving average is $26.22 and its 200 day simple moving average is $20.38.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP boosted its stake in shares of FARO Technologies by 912.2% during the 2nd quarter. Quarry LP now owns 1,832 shares of the scientific and technical instruments company's stock worth $29,000 after acquiring an additional 1,651 shares in the last quarter. CWM LLC boosted its position in FARO Technologies by 41.0% during the third quarter. CWM LLC now owns 3,328 shares of the scientific and technical instruments company's stock worth $64,000 after purchasing an additional 968 shares in the last quarter. SG Americas Securities LLC acquired a new stake in FARO Technologies in the third quarter valued at $141,000. Dynamic Technology Lab Private Ltd acquired a new stake in FARO Technologies in the third quarter valued at $213,000. Finally, American Century Companies Inc. increased its position in shares of FARO Technologies by 16.7% in the second quarter. American Century Companies Inc. now owns 20,903 shares of the scientific and technical instruments company's stock valued at $334,000 after buying an additional 2,993 shares in the last quarter. 97.19% of the stock is currently owned by institutional investors and hedge funds.

About FARO Technologies

FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven three-dimensional measurement, imaging, and realization solutions worldwide. The company offers FaroArm, a combination of a portable articulated measurement arm, a computer, and CAM2 software programs; FARO Laser Tracker, a combination of a portable large-volume laser measurement tool, a computer, and CAM2 software programs; FARO Laser Projector, which provides a virtual template that operators and assemblers can use to position components; FARO Laser Scanning Portfolio to measure and collect a cloud of data points for 3D rendering of an object or area; and FARO Mobile Laser Portfolio provides 3D scanning while attached to other mobile devices, such as drones for metrology, reverse engineering, factory automation, building information modeling, public safety, and other applications.