FARO Technologies, Inc. (NASDAQ:FARO) Short Interest Down 6.7% in October

FARO Technologies, Inc. (NASDAQ:FARO) saw a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 1,120,000 shares, a decrease of 6.7% from the September 30th total of 1,200,000 shares. Based on an average trading volume of 145,100 shares, the short-interest ratio is presently 7.7 days.

Insider Activity at FARO Technologies

In related news, CEO Peter James Lau sold 5,435 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 133,975 shares of the company’s stock, valued at $2,233,363.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FARO. Kennedy Capital Management LLC raised its holdings in shares of FARO Technologies by 105.1% during the first quarter. Kennedy Capital Management LLC now owns 437,589 shares of the scientific and technical instruments company’s stock worth $9,413,000 after purchasing an additional 224,273 shares during the last quarter. Swedbank AB purchased a new position in shares of FARO Technologies during the first quarter worth $3,226,000. Acadian Asset Management LLC grew its position in FARO Technologies by 136.2% during the first quarter. Acadian Asset Management LLC now owns 169,882 shares of the scientific and technical instruments company’s stock valued at $3,653,000 after buying an additional 97,969 shares during the period. Divisar Capital Management LLC grew its position in FARO Technologies by 5.1% during 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 during the period. Finally, Vanguard Group Inc. grew its position in FARO Technologies by 4.2% during the first quarter. Vanguard Group Inc. now owns 1,589,519 shares of the scientific and technical instruments company’s stock valued at $34,191,000 after buying an additional 64,095 shares during the period. Hedge funds and other institutional investors own 97.19% of the company’s stock.

FARO Technologies Trading Down 1.6 %

NASDAQ FARO opened at $17.97 on Thursday. The company has a fifty day simple moving average of $17.82 and a two-hundred day simple moving average of $17.55. The stock has a market cap of $345.13 million, a P/E ratio of -7.99 and a beta of 1.25. FARO Technologies has a 12-month low of $12.34 and a 12-month high of $24.80. The company has a current ratio of 2.33, a quick ratio of 2.01 and a debt-to-equity ratio of 0.27.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Craig Hallum decreased their target price on shares of FARO Technologies from $29.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Needham & Company LLC decreased their price target on shares of FARO Technologies from $27.00 to $24.00 and set a “buy” rating for the company in a report on Friday, August 9th.

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.