FARO Technologies (NASDAQ:FARO) Price Target Raised to $30.00 at Craig Hallum

FARO Technologies (NASDAQ:FARO) had its target price raised by Craig Hallum from $25.00 to $30.00 in a research note released on Thursday,Benzinga reports. They currently have a buy rating on the scientific and technical instruments company’s stock.

Separately, Needham & Company LLC increased their price objective on shares of FARO Technologies from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday.

FARO Technologies Stock Up 4.6 %

Shares of FARO stock traded up $1.18 during mid-day trading on Thursday, hitting $26.88. The stock had a trading volume of 502,265 shares, compared to its average volume of 172,825. FARO Technologies has a 12-month low of $13.52 and a 12-month high of $26.89. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.33 and a quick ratio of 2.01. The firm’s 50-day moving average is $18.09 and its two-hundred day moving average is $17.58. The firm has a market capitalization of $524.16 million, a P/E ratio of -32.53 and a beta of 1.26.

FARO Technologies (NASDAQ:FARO) last released its quarterly earnings data 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 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%.

Insider Activity at FARO Technologies

In other FARO Technologies news, CEO Peter James Lau sold 5,435 shares of the business’s stock in a transaction dated 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 directly owns 133,975 shares in the company, valued at approximately $2,233,363.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of FARO Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Divisar Capital Management LLC increased its position in FARO Technologies by 5.1% during the 2nd quarter. Divisar Capital Management LLC now owns 1,838,777 shares of the scientific and technical instruments company’s stock valued at $29,420,000 after buying an additional 90,000 shares in the last quarter. Vanguard Group Inc. increased 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 valued at $34,191,000 after acquiring an additional 64,095 shares in the last quarter. Royce & Associates LP raised its position in shares of FARO Technologies by 20.0% in the 3rd quarter. Royce & Associates LP now owns 1,409,031 shares of the scientific and technical instruments company’s stock valued at $26,969,000 after purchasing an additional 234,650 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in FARO Technologies by 10.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 604,432 shares of the scientific and technical instruments company’s stock worth $9,671,000 after purchasing an additional 59,142 shares in the last quarter. Finally, Kennedy Capital Management LLC grew its position in 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 worth $9,413,000 after purchasing an additional 224,273 shares during the last quarter. Hedge funds and other institutional investors own 97.19% of the company’s stock.

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.