FARO Technologies (NASDAQ:FARO) Hits New 52-Week High – What’s Next?

FARO Technologies, Inc. (NASDAQ:FARO)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $32.90 and last traded at $32.73, with a volume of 109773 shares traded. The stock had previously closed at $32.01.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on FARO shares. StockNews.com upgraded FARO Technologies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Craig Hallum lifted their price target on shares of FARO Technologies from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, Needham & Company LLC upped their price target on shares of FARO Technologies from $26.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, January 16th.

FARO Technologies Price Performance

The stock has a market cap of $606.58 million, a PE ratio of -91.63 and a beta of 1.38. The business’s 50-day simple moving average is $27.54 and its 200-day simple moving average is $21.55. The company has a quick ratio of 1.83, a current ratio of 2.17 and a debt-to-equity ratio of 0.27.

Hedge Funds Weigh In On FARO Technologies

Several hedge funds and other institutional investors have recently modified their holdings of FARO. SG Americas Securities LLC increased its position in FARO Technologies by 13.1% during the 4th quarter. SG Americas Securities LLC now owns 8,345 shares of the scientific and technical instruments company’s stock valued at $212,000 after buying an additional 966 shares in the last quarter. CWM LLC increased its holdings in shares of 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 valued at $64,000 after acquiring an additional 968 shares in the last quarter. Rhumbline Advisers raised its position in shares of FARO Technologies by 4.5% in the 4th quarter. Rhumbline Advisers now owns 31,279 shares of the scientific and technical instruments company’s stock worth $793,000 after purchasing an additional 1,333 shares during the last quarter. Quarry LP boosted its stake 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 worth $29,000 after purchasing an additional 1,651 shares in the last quarter. Finally, Polar Asset Management Partners Inc. grew its position 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 purchasing an additional 2,700 shares during the last quarter. Hedge funds and other institutional investors 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.