StockNews.com Upgrades FARO Technologies (NASDAQ:FARO) to “Strong-Buy”

StockNews.com upgraded shares of FARO Technologies (NASDAQ:FARO) from a buy rating to a strong-buy rating in a report released on Tuesday morning.

FARO has been the subject of several other reports. Needham & Company LLC boosted their price objective on shares of FARO Technologies from $24.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Craig Hallum boosted their price target on FARO Technologies from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 7th.

FARO Technologies Stock Down 1.5 %

FARO Technologies stock traded down $0.39 during midday trading on Tuesday, reaching $25.29. The company’s stock had a trading volume of 15,776 shares, compared to its average volume of 172,502. The company has a current ratio of 2.17, a quick ratio of 1.83 and a debt-to-equity ratio of 0.27. The stock’s 50-day simple moving average is $19.03 and its 200-day simple moving average is $17.87. FARO Technologies has a 52-week low of $13.52 and a 52-week high of $28.04.

Insider Buying and Selling at FARO Technologies

In other FARO Technologies news, CEO Peter James Lau sold 5,435 shares of FARO Technologies 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 completion of the transaction, the chief executive officer now owns 133,975 shares in the company, valued at approximately $2,233,363.25. This trade represents a 3.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.10% of the company’s stock.

Institutional Trading of FARO Technologies

A number of hedge funds have recently modified their holdings of the stock. Quarry LP raised its position in shares of FARO Technologies by 912.2% in 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 period. CWM LLC lifted its position in shares of FARO Technologies by 343.6% in the second quarter. CWM LLC now owns 2,360 shares of the scientific and technical instruments company’s stock valued at $38,000 after acquiring an additional 1,828 shares in the last quarter. SG Americas Securities LLC acquired a new stake in FARO Technologies during the 3rd quarter worth $141,000. Dynamic Technology Lab Private Ltd acquired a new position in FARO Technologies during the third quarter worth about $213,000. Finally, American Century Companies Inc. grew its position 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. Hedge funds and other institutional investors own 97.19% of the company’s stock.

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.