FARO Technologies, Inc. (NASDAQ:FARO - Get Free Report) was the target of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 1,120,000 shares, a decrease of 6.7% from the September 30th total of 1,200,000 shares. Based on an average daily trading volume, of 145,100 shares, the short-interest ratio is presently 7.7 days.
FARO Technologies Price Performance
Shares of NASDAQ:FARO traded down $0.43 on Thursday, reaching $17.54. 70,918 shares of the company were exchanged, compared to its average volume of 169,760. The company has a 50-day moving average of $17.84 and a 200-day moving average of $17.55. The company has a current ratio of 2.33, a quick ratio of 2.01 and a debt-to-equity ratio of 0.27. The firm has a market cap of $336.87 million, a price-to-earnings ratio of -7.81 and a beta of 1.25. FARO Technologies has a 1-year low of $12.34 and a 1-year high of $24.80.
FARO Technologies (NASDAQ:FARO - Get Free Report) last issued its earnings results on Thursday, August 8th. The scientific and technical instruments company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.17) by $0.14. The company 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%.
Analyst Upgrades and Downgrades
Several research firms have recently commented on FARO. Needham & Company LLC reduced their target price on shares of FARO Technologies from $27.00 to $24.00 and set a "buy" rating for the company in a research note on Friday, August 9th. Craig Hallum cut their target price on FARO Technologies from $29.00 to $25.00 and set a "buy" rating for the company in a research note on Friday, August 9th.
Check Out Our Latest Report on FARO
Insider Activity
In related news, CEO Peter James Lau sold 5,435 shares of the firm's stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $16.67, for a total transaction of $90,601.45. Following the transaction, the chief executive officer now owns 133,975 shares of the company's stock, valued at $2,233,363.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.10% of the company's stock.
Institutional Trading of FARO Technologies
Institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its stake in shares of FARO Technologies by 3.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,806 shares of the scientific and technical instruments company's stock worth $642,000 after buying an additional 897 shares during the last quarter. CWM LLC increased its holdings in FARO Technologies by 41.0% during the 3rd quarter. CWM LLC now owns 3,328 shares of the scientific and technical instruments company's stock valued at $64,000 after acquiring an additional 968 shares in the last quarter. Quarry LP raised its position in FARO Technologies by 912.2% during the second 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 during the last quarter. American Century Companies Inc. lifted its holdings 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 purchasing an additional 2,993 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of FARO Technologies by 5.8% in the second quarter. Bank of New York Mellon Corp now owns 76,337 shares of the scientific and technical instruments company's stock valued at $1,221,000 after purchasing an additional 4,174 shares during the last quarter. 97.19% of the stock is currently owned by hedge funds and other institutional investors.
About FARO Technologies
(
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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