FARO Technologies (NASDAQ:FARO) Trading 9.3% Higher – Time to Buy?

FARO Technologies, Inc. (NASDAQ:FARO)’s stock price shot up 9.3% on Tuesday . The stock traded as high as $26.84 and last traded at $26.84. 19,486 shares changed hands during trading, a decline of 80% from the average session volume of 95,336 shares. The stock had previously closed at $24.56.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on FARO shares. Needham & Company LLC increased their price objective on FARO Technologies from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Craig Hallum lifted their price objective on shares of FARO Technologies from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, StockNews.com upgraded shares of FARO Technologies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 12th.

FARO Technologies Trading Up 12.1 %

The firm has a 50-day moving average price of $26.01 and a 200-day moving average price of $20.29. The stock has a market capitalization of $520.79 million, a PE ratio of -78.65 and a beta of 1.38. The company has a current ratio of 2.17, a quick ratio of 1.83 and a debt-to-equity ratio of 0.27.

Institutional Investors Weigh In On FARO Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP raised its position in FARO Technologies by 912.2% in 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 during the period. CWM LLC raised its position in shares of FARO Technologies by 41.0% in the 3rd 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 during the last quarter. SG Americas Securities LLC bought a new stake in shares of FARO Technologies during the third quarter valued at approximately $141,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of FARO Technologies in the third quarter worth approximately $213,000. Finally, American Century Companies Inc. increased its position 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 valued at $334,000 after purchasing an additional 2,993 shares during the last quarter. 97.19% of the stock is owned by hedge funds and other institutional investors.

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.