FARO Technologies (NASDAQ:FARO) Price Target Raised to $30.00

FARO Technologies (NASDAQ:FARO) had its price target hoisted by Craig Hallum from $25.00 to $30.00 in a research report released on Thursday,Benzinga reports. Craig Hallum currently has a buy rating on the scientific and technical instruments company’s stock.

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

FARO Technologies Stock Up 4.6 %

Shares of NASDAQ FARO traded up $1.18 during mid-day trading on Thursday, reaching $26.88. The company had a trading volume of 502,265 shares, compared to its average volume of 91,531. The firm has a 50 day simple moving average of $18.26 and a two-hundred day simple moving average of $17.63. FARO Technologies has a 52-week low of $13.52 and a 52-week high of $26.89. The company has a current ratio of 2.33, a quick ratio of 2.01 and a debt-to-equity ratio of 0.27. The stock has a market cap of $524.16 million, a P/E ratio of -76.80 and a beta of 1.26.

FARO Technologies (NASDAQ:FARO) last issued its quarterly earnings data on Thursday, August 8th. The scientific and technical instruments company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.14. FARO Technologies had a negative return on equity of 2.47% and a negative net margin of 1.87%. The company had revenue of $82.09 million for the quarter.

Insider Buying and Selling

In other FARO Technologies news, CEO Peter James Lau sold 5,435 shares of FARO Technologies stock in a transaction on Friday, September 6th. The shares were sold at an average price of $16.67, for a total value of $90,601.45. Following the transaction, the chief executive officer now directly owns 133,975 shares in the company, valued at approximately $2,233,363.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Quarry LP grew its position in 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 valued at $29,000 after buying an additional 1,651 shares during the last quarter. CWM LLC lifted its stake in shares of FARO Technologies by 343.6% in the 2nd quarter. CWM LLC now owns 2,360 shares of the scientific and technical instruments company’s stock worth $38,000 after acquiring an additional 1,828 shares during the period. SG Americas Securities LLC purchased a new stake in shares of FARO Technologies in the third quarter valued at about $141,000. American Century Companies Inc. increased its stake in shares of FARO Technologies by 16.7% during the second quarter. American Century Companies Inc. now owns 20,903 shares of the scientific and technical instruments company’s stock worth $334,000 after acquiring an additional 2,993 shares during the period. Finally, Quest Partners LLC raised its holdings in FARO Technologies by 196.7% during the third quarter. Quest Partners LLC now owns 31,622 shares of the scientific and technical instruments company’s stock worth $605,000 after purchasing an additional 20,963 shares in 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.