FARO Technologies, Inc. (NASDAQ:FARO - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $22.68 and traded as high as $29.38. FARO Technologies shares last traded at $28.44, with a volume of 93,059 shares changing hands.
Wall Street Analyst Weigh In
FARO has been the subject of several research reports. Craig Hallum lifted their target price on FARO Technologies from $30.00 to $33.00 and gave the company a "buy" rating in a research report on Thursday, December 12th. StockNews.com raised FARO Technologies from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, November 12th. Finally, Needham & Company LLC lifted their target price on FARO Technologies from $26.00 to $34.00 and gave the company a "buy" rating in a research report on Thursday, January 16th.
Check Out Our Latest Report on FARO
FARO Technologies Stock Performance
The firm has a market capitalization of $504.41 million, a price-to-earnings ratio of -76.17 and a beta of 1.40. The company has a quick ratio of 1.83, a current ratio of 2.17 and a debt-to-equity ratio of 0.27. The stock has a 50-day moving average price of $28.41 and a 200 day moving average price of $22.86.
Insider Transactions at FARO Technologies
In related news, Director Yuval Wasserman sold 5,658 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $31.35, for a total value of $177,378.30. Following the completion of the transaction, the director now directly owns 153,512 shares of the company's stock, valued at $4,812,601.20. This represents a 3.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.10% of the company's stock.
Hedge Funds Weigh In On FARO Technologies
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FARO. T. Rowe Price Investment Management Inc. purchased a new stake in FARO Technologies in the fourth quarter valued at approximately $10,849,000. Driehaus Capital Management LLC purchased a new stake in shares of FARO Technologies during the fourth quarter worth approximately $8,990,000. Royce & Associates LP grew its holdings in FARO Technologies by 20.0% during the third quarter. Royce & Associates LP now owns 1,409,031 shares of the scientific and technical instruments company's stock worth $26,969,000 after acquiring an additional 234,650 shares during the period. Bastion Asset Management Inc. acquired a new position in FARO Technologies during the fourth quarter worth $5,892,000. Finally, Needham Investment Management LLC grew its holdings in FARO Technologies by 20.0% during the third quarter. Needham Investment Management LLC now owns 1,029,250 shares of the scientific and technical instruments company's stock worth $19,700,000 after acquiring an additional 171,300 shares during the period. 97.19% of the stock is owned by institutional investors and hedge funds.
FARO Technologies Company Profile
(
Get Free Report)
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.
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