FARO Technologies (NASDAQ:FARO) Rating Increased to Strong-Buy at StockNews.com

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

A number of other research firms have also weighed in on FARO. Needham & Company LLC increased their price target on FARO Technologies from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Craig Hallum raised their target price on shares of FARO Technologies from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, November 7th.

FARO Technologies Stock Performance

FARO opened at $25.06 on Tuesday. The company has a quick ratio of 1.83, a current ratio of 2.17 and a debt-to-equity ratio of 0.27. The firm has a market cap of $474.14 million, a PE ratio of -71.60 and a beta of 1.26. The business has a fifty day simple moving average of $19.20 and a 200-day simple moving average of $17.91. FARO Technologies has a fifty-two week low of $13.52 and a fifty-two 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 the firm’s 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 sale, the chief executive officer now directly 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 2.10% of the company’s stock.

Institutional Trading of FARO Technologies

A number of hedge funds have recently made changes to their positions in the stock. Divisar Capital Management LLC lifted its stake in shares of FARO Technologies by 5.1% in 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 purchasing an additional 90,000 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of FARO Technologies by 4.2% in the first quarter. Vanguard Group Inc. now owns 1,589,519 shares of the scientific and technical instruments company’s stock worth $34,191,000 after buying an additional 64,095 shares during the last quarter. Royce & Associates LP boosted its stake in shares of FARO Technologies by 20.0% during the 3rd quarter. Royce & Associates LP now owns 1,409,031 shares of the scientific and technical instruments company’s stock worth $26,969,000 after acquiring an additional 234,650 shares in the last quarter. Needham Investment Management LLC increased its position in FARO Technologies by 20.0% in the 3rd quarter. Needham Investment Management LLC now owns 1,029,250 shares of the scientific and technical instruments company’s stock worth $19,700,000 after buying an additional 171,300 shares during the period. Finally, Harvey Partners LLC lifted its holdings in shares of FARO Technologies by 17.8% during the third quarter. Harvey Partners LLC now owns 1,006,000 shares of the scientific and technical instruments company’s stock worth $19,255,000 after buying an additional 152,000 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.