FARO Technologies (NASDAQ:FARO) Price Target Raised to $33.00 at Craig Hallum

FARO Technologies (NASDAQ:FARO) had its target price upped by Craig Hallum from $30.00 to $33.00 in a report issued on Thursday morning,Benzinga reports. Craig Hallum currently has a buy rating on the scientific and technical instruments company’s stock.

Other analysts also recently issued reports about the stock. StockNews.com upgraded shares of FARO Technologies from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Needham & Company LLC lifted their price target on shares of FARO Technologies from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, November 7th.

FARO Technologies Price Performance

FARO stock opened at $28.20 on Thursday. The business has a 50-day moving average of $22.48 and a 200-day moving average of $18.93. FARO Technologies has a fifty-two week low of $13.52 and a fifty-two week high of $29.30. The company has a quick ratio of 1.83, a current ratio of 2.17 and a debt-to-equity ratio of 0.27.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FARO. Divisar Capital Management LLC grew its stake in shares of FARO Technologies by 5.1% in the second quarter. Divisar Capital Management LLC now owns 1,838,777 shares of the scientific and technical instruments company’s stock valued at $29,420,000 after buying an additional 90,000 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of FARO Technologies by 23.5% in the 2nd quarter. Acadian Asset Management LLC now owns 209,787 shares of the scientific and technical instruments company’s stock valued at $3,354,000 after acquiring an additional 39,905 shares during the period. Harvey Partners LLC increased its stake in shares of FARO Technologies by 17.8% during the 3rd quarter. Harvey Partners LLC now owns 1,006,000 shares of the scientific and technical instruments company’s stock worth $19,255,000 after purchasing an additional 152,000 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of FARO Technologies by 20.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 339,506 shares of the scientific and technical instruments company’s stock valued at $5,432,000 after purchasing an additional 57,493 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in FARO Technologies by 32.2% in the 2nd quarter. Renaissance Technologies LLC now owns 225,307 shares of the scientific and technical instruments company’s stock valued at $3,605,000 after purchasing an additional 54,865 shares during the last quarter. Institutional investors and hedge funds 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.