FARO Technologies (NASDAQ:FARO) Trading 9.3% Higher – What’s Next?

FARO Technologies, Inc. (NASDAQ:FARO) traded up 9.3% on Tuesday . The stock traded as high as $26.84 and last traded at $26.84. Approximately 19,486 shares traded 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 firms have issued reports on FARO. Craig Hallum increased their price objective on FARO Technologies from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. StockNews.com upgraded shares of FARO Technologies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Finally, Needham & Company LLC lifted their price target on shares of FARO Technologies from $26.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday.

FARO Technologies Trading Up 9.0 %

The stock has a 50-day moving average of $26.42 and a two-hundred day moving average of $20.44. The company has a market cap of $602.22 million, a P/E ratio of -90.94 and a beta of 1.38. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.83 and a current ratio of 2.17.

Hedge Funds Weigh In On FARO Technologies

Several institutional investors and hedge funds have recently modified their holdings of FARO. CWM LLC grew its position 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 purchasing an additional 968 shares during the last quarter. Quarry LP lifted its stake 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 buying an additional 1,651 shares in the last quarter. Polar Asset Management Partners Inc. grew its holdings in shares of FARO Technologies by 0.4% during the third quarter. Polar Asset Management Partners Inc. now owns 676,796 shares of the scientific and technical instruments company’s stock valued at $12,954,000 after buying an additional 2,700 shares during the last quarter. American Century Companies Inc. increased its position in shares of FARO Technologies by 16.7% during 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 acquiring an additional 2,993 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in FARO Technologies by 5.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 76,337 shares of the scientific and technical instruments company’s stock worth $1,221,000 after acquiring an additional 4,174 shares during the last quarter. 97.19% of the stock is currently owned by 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.