FARO Technologies (NASDAQ:FARO) Stock Price Down 3.8% – Time to Sell?

FARO Technologies, Inc. (NASDAQ:FARO) fell 3.8% during trading on Friday . The company traded as low as $30.53 and last traded at $30.63. 119,893 shares changed hands during 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 several research reports. Craig Hallum boosted their price target on shares of FARO Technologies from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. StockNews.com upgraded shares of FARO Technologies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Finally, Needham & Company LLC boosted their price objective on FARO Technologies from $26.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday.

FARO Technologies Price Performance

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 company has a market capitalization of $583.49 million, a PE ratio of -88.11 and a beta of 1.38. The firm’s 50 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 large investors have recently made changes to their positions in the company. SG Americas Securities LLC lifted its stake in FARO Technologies by 13.1% in the fourth quarter. SG Americas Securities LLC now owns 8,345 shares of the scientific and technical instruments company’s stock worth $212,000 after purchasing an additional 966 shares during the last quarter. CWM LLC raised its holdings in shares of FARO Technologies by 41.0% in the third quarter. CWM LLC now owns 3,328 shares of the scientific and technical instruments company’s stock worth $64,000 after buying an additional 968 shares during the period. Quarry LP lifted its stake in shares of FARO Technologies by 912.2% during the 2nd 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 last quarter. Polar Asset Management Partners Inc. boosted its holdings in FARO Technologies by 0.4% during the 3rd 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 acquiring an additional 2,700 shares during the period. Finally, American Century Companies Inc. grew its position in 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 valued at $334,000 after acquiring an additional 2,993 shares during the last quarter. 97.19% of the stock is owned by hedge funds and other 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.