FARO Technologies (NASDAQ:FARO) Stock Crosses Above 200 Day Moving Average - What's Next?

FARO Technologies, Inc. (NASDAQ:FARO - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $17.64 and traded as high as $18.66. FARO Technologies shares last traded at $18.52, with a volume of 88,548 shares changing hands.

Analyst Ratings Changes

A number of brokerages have issued reports on FARO. Needham & Company LLC reduced their price target on FARO Technologies from $27.00 to $24.00 and set a "buy" rating for the company in a research report on Friday, August 9th. Craig Hallum lowered their target price on shares of FARO Technologies from $29.00 to $25.00 and set a "buy" rating on the stock in a research note on Friday, August 9th.

FARO Technologies Trading Down 2.4 %

The stock has a market capitalization of $347.24 million, a P/E ratio of -8.04 and a beta of 1.25. The business has a 50 day simple moving average of $17.55 and a 200-day simple moving average of $17.64. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.01 and a current ratio of 2.33.

FARO Technologies (NASDAQ:FARO - Get Free Report) last released its earnings results on Thursday, August 8th. The scientific and technical instruments company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.14. The business had revenue of $82.09 million during the quarter. FARO Technologies had a negative net margin of 4.25% and a negative return on equity of 5.72%.

Insider Buying and Selling

In related news, CEO Peter James Lau sold 5,435 shares of the firm's stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $16.67, for a total value of $90,601.45. Following the completion of the transaction, the chief executive officer now owns 133,975 shares of the company's stock, valued at approximately $2,233,363.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FARO Technologies

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of FARO Technologies by 4.2% during the first quarter. Vanguard Group Inc. now owns 1,589,519 shares of the scientific and technical instruments company's stock worth $34,191,000 after acquiring an additional 64,095 shares in the last quarter. Swedbank AB acquired a new stake in shares of FARO Technologies during the 1st quarter valued at about $3,226,000. Acadian Asset Management LLC grew its stake in shares of FARO Technologies by 136.2% in the 1st quarter. Acadian Asset Management LLC now owns 169,882 shares of the scientific and technical instruments company's stock valued at $3,653,000 after buying an additional 97,969 shares in the last quarter. Kennedy Capital Management LLC raised its holdings in shares of FARO Technologies by 105.1% during the 1st quarter. Kennedy Capital Management LLC now owns 437,589 shares of the scientific and technical instruments company's stock valued at $9,413,000 after purchasing an additional 224,273 shares in the last quarter. Finally, Divisar Capital Management LLC lifted its position in shares of FARO Technologies by 5.1% in the second quarter. Divisar Capital Management LLC now owns 1,838,777 shares of the scientific and technical instruments company's stock worth $29,420,000 after buying an additional 90,000 shares during 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.