FARO Technologies (NASDAQ:FARO) Share Price Passes Above Two Hundred 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.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FARO. Needham & Company LLC upped their price objective on FARO Technologies from $26.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. StockNews.com raised shares of FARO Technologies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Finally, Craig Hallum upped 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.

FARO Technologies Trading Down 2.4 %

The business’s 50-day moving average is $28.42 and its two-hundred day moving average is $22.83. The company has a current ratio of 2.17, a quick ratio of 1.83 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $542.44 million, a PE ratio of -81.91 and a beta of 1.40.

Insider Buying and Selling

In other FARO Technologies news, Director Yuval Wasserman sold 5,658 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $31.35, for a total value of $177,378.30. Following the completion of the transaction, the director now directly owns 153,512 shares of the company’s stock, valued at $4,812,601.20. This represents a 3.55 % 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 owned by corporate insiders.

Hedge Funds Weigh In On FARO Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royce & Associates LP boosted its position in FARO Technologies by 20.0% in the 3rd quarter. Royce & Associates LP now owns 1,409,031 shares of the scientific and technical instruments company’s stock valued at $26,969,000 after buying an additional 234,650 shares during the last quarter. Needham Investment Management LLC boosted 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 valued at $19,700,000 after buying an additional 171,300 shares during the last quarter. Harvey Partners LLC boosted its position in FARO Technologies by 17.8% in the 3rd quarter. Harvey Partners LLC now owns 1,006,000 shares of the scientific and technical instruments company’s stock valued at $19,255,000 after buying an additional 152,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in FARO Technologies by 9.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 744,222 shares of the scientific and technical instruments company’s stock valued at $18,874,000 after buying an additional 62,305 shares during the last quarter. Finally, Polar Asset Management Partners Inc. raised its stake in shares of FARO Technologies by 0.4% in 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 in 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.