FARO Technologies (NASDAQ:FARO) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

Shares of 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 $22.68 and traded as high as $29.38. FARO Technologies shares last traded at $28.44, with a volume of 93,059 shares traded.

Wall Street Analysts Forecast Growth

FARO has been the topic of several research analyst reports. Needham & Company LLC raised their price objective on FARO Technologies from $26.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. StockNews.com raised shares of FARO Technologies from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Finally, Craig Hallum increased their price objective on shares of FARO Technologies from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, December 12th.

FARO Technologies Price Performance

The company has a 50 day moving average price of $28.35 and a 200-day moving average price of $22.68. 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 cap of $538.08 million, a price-to-earnings ratio of -81.25 and a beta of 1.40.

Insider Activity

In other news, Director Yuval Wasserman sold 5,658 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $31.35, for a total value of $177,378.30. Following the completion of the sale, the director now owns 153,512 shares of the company’s stock, valued at approximately $4,812,601.20. This represents a 3.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.10% of the company’s stock.

Institutional Trading of FARO Technologies

Several institutional investors have recently added to or reduced their stakes in FARO. Quarry LP bought a new position in FARO Technologies during the 4th quarter worth approximately $25,000. National Bank of Canada FI bought a new position in FARO Technologies during the fourth quarter worth $55,000. CWM LLC raised its stake in FARO Technologies by 41.0% during 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 last quarter. Lazard Asset Management LLC acquired a new position in FARO Technologies in the fourth quarter valued at $78,000. Finally, Covestor Ltd bought a new stake in FARO Technologies during the fourth quarter valued at $111,000. 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.