FARO Technologies (NASDAQ:FARO) Shares Pass Above 200-Day Moving Average – Here’s Why

FARO Technologies, Inc. (NASDAQ:FARO) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $17.64 and traded as high as $18.66. FARO Technologies shares last traded at $18.52, with a volume of 88,548 shares.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on FARO shares. Craig Hallum dropped their price target on shares of FARO Technologies from $29.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Needham & Company LLC lowered their target price on FARO Technologies from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Friday, August 9th.

FARO Technologies Trading Up 1.4 %

The company has a 50-day moving average price of $17.55 and a 200-day moving average price of $17.64. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.01 and a current ratio of 2.33. The firm has a market capitalization of $355.70 million, a price-to-earnings ratio of -8.23 and a beta of 1.25.

FARO Technologies (NASDAQ:FARO) last released its quarterly earnings data on Thursday, August 8th. The scientific and technical instruments company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.14. The company had revenue of $82.09 million during the quarter. FARO Technologies had a negative net margin of 4.25% and a negative return on equity of 5.72%.

Insiders Place Their Bets

In related news, CEO Peter James Lau sold 5,435 shares of FARO Technologies stock in a transaction on Friday, September 6th. The shares were sold at an average price of $16.67, for a total value of $90,601.45. Following the transaction, the chief executive officer now directly owns 133,975 shares in the company, valued at $2,233,363.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.10% of the stock is currently owned by insiders.

Institutional Trading of FARO Technologies

Several large investors have recently bought and sold shares of FARO. Quarry LP lifted its holdings in FARO Technologies by 912.2% in the 2nd quarter. Quarry LP now owns 1,832 shares of the scientific and technical instruments company’s stock valued at $29,000 after purchasing an additional 1,651 shares in the last quarter. CWM LLC lifted its stake in shares of FARO Technologies by 343.6% during the second quarter. CWM LLC now owns 2,360 shares of the scientific and technical instruments company’s stock worth $38,000 after purchasing an additional 1,828 shares in the last quarter. SG Americas Securities LLC purchased a new position in FARO Technologies in the 3rd quarter worth approximately $141,000. American Century Companies Inc. boosted its stake 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 during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of FARO Technologies by 3.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 29,806 shares of the scientific and technical instruments company’s stock valued at $642,000 after acquiring an additional 897 shares in the last quarter. Institutional investors and hedge funds 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.