FARO Technologies (NASDAQ:FARO) Hits New 1-Year High – Time to Buy?

FARO Technologies, Inc. (NASDAQ:FARO)’s share price reached a new 52-week high during trading on Friday . The company traded as high as $32.90 and last traded at $32.73, with a volume of 109773 shares changing hands. The stock had previously closed at $32.01.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. StockNews.com raised FARO Technologies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Needham & Company LLC upped their price target 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, Craig Hallum upped their target price on shares of FARO Technologies from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, December 12th.

FARO Technologies Price Performance

The company has a quick ratio of 1.83, a current ratio of 2.17 and a debt-to-equity ratio of 0.27. The firm’s fifty day moving average price is $27.54 and its 200 day moving average price is $21.55. The stock has a market cap of $606.58 million, a PE ratio of -91.63 and a beta of 1.38.

Institutional Trading of FARO Technologies

Hedge funds have recently modified their holdings of the company. Quarry LP grew its stake 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 worth $29,000 after buying an additional 1,651 shares in the last quarter. CWM LLC boosted its stake in FARO Technologies by 41.0% during the third quarter. CWM LLC now owns 3,328 shares of the scientific and technical instruments company’s stock worth $64,000 after buying an additional 968 shares during the period. SG Americas Securities LLC purchased a new stake in shares of FARO Technologies in the third quarter valued at $141,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of FARO Technologies in the 3rd quarter worth about $213,000. Finally, Range Financial Group LLC bought a new stake in FARO Technologies in the fourth quarter worth about $374,000. 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.