Short Interest in FARO Technologies, Inc. (NASDAQ:FARO) Drops By 5.2%

FARO Technologies, Inc. (NASDAQ:FARO) was the target of a large decrease in short interest in August. As of August 15th, there was short interest totalling 1,650,000 shares, a decrease of 5.2% from the July 31st total of 1,740,000 shares. Based on an average daily trading volume, of 155,200 shares, the short-interest ratio is presently 10.6 days.

Insider Transactions at FARO Technologies

In other news, Director Yuval Wasserman sold 10,149 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $16.52, for a total value of $167,661.48. Following the completion of the transaction, the director now directly owns 183,476 shares of the company’s stock, valued at approximately $3,031,023.52. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders sold 30,036 shares of company stock valued at $518,303. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its holdings 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 purchasing an additional 897 shares in the last quarter. Quarry LP grew its holdings 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 purchasing an additional 1,651 shares in the last quarter. CWM LLC grew its holdings in shares of FARO Technologies by 343.6% during the 2nd quarter. CWM LLC now owns 2,360 shares of the scientific and technical instruments company’s stock worth $38,000 after purchasing an additional 1,828 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of FARO Technologies by 16.7% during the 2nd quarter. American Century Companies Inc. now owns 20,903 shares of the scientific and technical instruments company’s stock worth $334,000 after purchasing an additional 2,993 shares in the last quarter. Finally, King Luther Capital Management Corp grew its holdings in shares of FARO Technologies by 3.9% during the 4th quarter. King Luther Capital Management Corp now owns 80,000 shares of the scientific and technical instruments company’s stock worth $1,802,000 after purchasing an additional 3,000 shares in the last quarter. 97.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on FARO shares. Needham & Company LLC decreased their price target on FARO Technologies from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Craig Hallum decreased their price objective on FARO Technologies from $29.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, August 9th.

FARO Technologies Price Performance

FARO stock opened at $17.35 on Thursday. 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 capitalization of $333.22 million, a PE ratio of -7.71 and a beta of 1.25. FARO Technologies has a 1-year low of $12.34 and a 1-year high of $24.80. The business’s 50 day simple moving average is $16.51 and its 200 day simple moving average is $18.45.

FARO Technologies (NASDAQ:FARO) last posted its earnings results on Thursday, August 8th. The scientific and technical instruments company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.14. The business had revenue of $82.09 million for the quarter. FARO Technologies had a negative return on equity of 5.72% and a negative net margin of 4.25%.

FARO Technologies Company Profile

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.