Short Interest in FARO Technologies, Inc. (NASDAQ:FARO) Grows By 7.9%

FARO Technologies, Inc. (NASDAQ:FARO) was the target of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 967,000 shares, an increase of 7.9% from the January 15th total of 896,400 shares. Based on an average trading volume of 213,500 shares, the short-interest ratio is presently 4.5 days.

FARO Technologies Trading Up 3.3 %

Shares of FARO Technologies stock traded up $0.94 during mid-day trading on Tuesday, hitting $29.38. 255,476 shares of the stock were exchanged, compared to its average volume of 234,609. The stock has a market capitalization of $555.87 million, a price-to-earnings ratio of -83.94 and a beta of 1.40. FARO Technologies has a twelve month low of $13.52 and a twelve month high of $32.90. 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 company has a 50-day simple moving average of $28.35 and a 200 day simple moving average of $22.68.

Insider Buying and Selling

In related news, Director Yuval Wasserman sold 5,658 shares of the business’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 sale, the director now directly owns 153,512 shares in the company, valued at $4,812,601.20. The trade was a 3.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.10% of the company’s stock.

Institutional Trading of FARO Technologies

Hedge funds have recently bought and sold shares of the company. Harvey Partners LLC raised its holdings 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 acquiring an additional 152,000 shares during the last quarter. Quest Partners LLC grew its position in shares of FARO Technologies by 196.7% in the third quarter. Quest Partners LLC now owns 31,622 shares of the scientific and technical instruments company’s stock valued at $605,000 after purchasing an additional 20,963 shares during the period. Barclays PLC increased its stake in FARO Technologies by 41.4% in the third quarter. Barclays PLC now owns 61,125 shares of the scientific and technical instruments company’s stock valued at $1,171,000 after purchasing an additional 17,892 shares during the last quarter. Geode Capital Management LLC lifted its position in FARO Technologies by 4.4% during the third quarter. Geode Capital Management LLC now owns 450,899 shares of the scientific and technical instruments company’s stock worth $8,633,000 after buying an additional 19,005 shares during the period. Finally, Royce & Associates LP boosted its stake 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 worth $26,969,000 after buying an additional 234,650 shares during the last quarter. Institutional investors and hedge funds own 97.19% of the company’s stock.

Analyst Upgrades and Downgrades

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