FARO Technologies (NASDAQ:FARO) Trading Down 3.8% – Should You Sell?

Shares of FARO Technologies, Inc. (NASDAQ:FARO) traded down 3.8% during trading on Friday . The company traded as low as $30.53 and last traded at $30.63. 119,893 shares traded hands during mid-day trading, a decline of 43% from the average session volume of 210,317 shares. The stock had previously closed at $31.83.

Wall Street Analyst Weigh In

FARO has been the topic of a number of research reports. Needham & Company LLC raised their target price on shares of FARO Technologies from $26.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday. StockNews.com upgraded FARO Technologies from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Finally, Craig Hallum lifted their target price on FARO Technologies from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, December 12th.

FARO Technologies Trading Down 3.1 %

The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.83 and a current ratio of 2.17. The company has a market capitalization of $583.49 million, a P/E ratio of -88.11 and a beta of 1.38. The company’s fifty day simple moving average is $26.63 and its 200-day simple moving average is $20.65.

Hedge Funds Weigh In On FARO Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP raised its stake in 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. CWM LLC boosted 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 acquiring an additional 968 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of FARO Technologies in the 3rd quarter valued at $141,000. Dynamic Technology Lab Private Ltd bought a new position in shares of FARO Technologies in the 3rd quarter worth $213,000. Finally, American Century Companies Inc. raised its position in shares of FARO Technologies by 16.7% in 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 acquiring an additional 2,993 shares in the last quarter. 97.19% of the stock is currently owned by institutional investors.

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.