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

FARO Technologies, Inc. (NASDAQ:FARO) saw a significant growth in short interest in January. As of January 31st, there was short interest totalling 967,000 shares, a growth 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 currently 4.5 days.

Insider Buying and Selling at FARO Technologies

In other news, Director Yuval Wasserman sold 5,658 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $31.35, for a total transaction of $177,378.30. Following the transaction, the director now directly owns 153,512 shares in the company, valued at approximately $4,812,601.20. This trade represents a 3.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP purchased a new stake in FARO Technologies in the 4th quarter valued at approximately $25,000. National Bank of Canada FI purchased a new stake in shares of FARO Technologies in the fourth quarter valued at approximately $55,000. CWM LLC grew its holdings 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 acquiring an additional 968 shares during the period. Lazard Asset Management LLC purchased a new position in FARO Technologies in the fourth quarter worth $78,000. Finally, Covestor Ltd acquired a new stake in FARO Technologies in the fourth quarter valued at $111,000. 97.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

FARO Technologies Stock Performance

FARO traded up $0.94 during trading on Tuesday, hitting $29.38. The stock had a trading volume of 255,476 shares, compared to its average volume of 234,609. The firm has a market capitalization of $555.87 million, a P/E ratio of -83.94 and a beta of 1.40. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.83 and a current ratio of 2.17. FARO Technologies has a twelve month low of $13.52 and a twelve month high of $32.90. The company’s 50-day moving average price is $28.35 and its 200 day moving average price is $22.68.

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.