Craig Hallum Issues Positive Forecast for FARO Technologies (NASDAQ:FARO) Stock Price

FARO Technologies (NASDAQ:FARO) had its price target lifted by Craig Hallum from $25.00 to $30.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the scientific and technical instruments company’s stock. Craig Hallum’s target price would indicate a potential upside of 19.09% from the company’s previous close.

Separately, Needham & Company LLC lifted their target price on FARO Technologies from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday.

FARO Technologies Trading Up 33.8 %

Shares of NASDAQ:FARO traded up $6.36 during mid-day trading on Thursday, hitting $25.19. The stock had a trading volume of 338,852 shares, compared to its average volume of 169,725. The company’s 50 day moving average is $17.93 and its 200-day moving average is $17.53. FARO Technologies has a 12-month low of $13.52 and a 12-month high of $26.32. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.01 and a current ratio of 2.33. The company has a market cap of $491.21 million, a PE ratio of -32.01 and a beta of 1.26.

FARO Technologies (NASDAQ:FARO) last issued its earnings results on Thursday, August 8th. The scientific and technical instruments company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.14. The business had revenue of $82.09 million during the quarter. FARO Technologies had a negative return on equity of 5.72% and a negative net margin of 4.25%.

Insider Buying and Selling

In other news, CEO Peter James Lau sold 5,435 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $16.67, for a total transaction of $90,601.45. Following the transaction, the chief executive officer now owns 133,975 shares in the company, valued at approximately $2,233,363.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On FARO Technologies

A number of institutional investors have recently modified their holdings of the company. Royce & Associates LP increased 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 worth $26,969,000 after buying an additional 234,650 shares during the period. GSA Capital Partners LLP increased its stake in FARO Technologies by 27.6% during the third quarter. GSA Capital Partners LLP now owns 78,277 shares of the scientific and technical instruments company’s stock valued at $1,498,000 after acquiring an additional 16,944 shares during the period. CWM LLC raised its holdings in 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 in the last quarter. SG Americas Securities LLC acquired a new stake in shares of FARO Technologies during the 3rd quarter worth approximately $141,000. Finally, Quarry LP increased its position in shares of FARO Technologies by 912.2% during the second quarter. Quarry LP now owns 1,832 shares of the scientific and technical instruments company’s stock valued at $29,000 after purchasing an additional 1,651 shares during the period. 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.