FARO Technologies (NASDAQ:FARO) Shares Cross Above 200 Day Moving Average – Should You Sell?

FARO Technologies, Inc. (NASDAQ:FARO)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $21.31 and traded as high as $31.62. FARO Technologies shares last traded at $30.59, with a volume of 204,822 shares.

Analysts Set New Price Targets

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

FARO Technologies Trading Down 5.3 %

The company’s 50-day moving average is $27.22 and its 200-day moving average is $21.31. The firm has a market cap of $578.76 million, a price-to-earnings ratio of -87.40 and a beta of 1.38. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.83 and a current ratio of 2.17.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FARO. SG Americas Securities LLC raised its position in shares of FARO Technologies by 13.1% in 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 acquiring an additional 966 shares during the period. CWM LLC raised its position in shares of FARO Technologies by 41.0% in the 3rd 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 during the period. Quarry LP raised its position in shares of 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 acquiring an additional 1,651 shares during the period. Polar Asset Management Partners Inc. raised its position 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 acquiring an additional 2,700 shares during the period. Finally, American Century Companies Inc. raised its position in shares of 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 period. 97.19% of the stock is currently owned by institutional investors and hedge funds.

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.