Short Interest in FARO Technologies, Inc. (NASDAQ:FARO) Decreases By 6.7%

FARO Technologies, Inc. (NASDAQ:FARO) was the recipient of a large decline in short interest in October. As of October 15th, there was short interest totalling 1,120,000 shares, a decline 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 Buying and Selling at FARO Technologies

In related news, CEO Peter James Lau sold 5,435 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $16.67, for a total value of $90,601.45. Following the transaction, the chief executive officer now owns 133,975 shares in the company, valued at approximately $2,233,363.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On FARO Technologies

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of FARO Technologies by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 1,589,519 shares of the scientific and technical instruments company’s stock worth $34,191,000 after purchasing an additional 64,095 shares in the last quarter. Swedbank AB acquired a new position in shares of FARO Technologies during the first quarter valued at about $3,226,000. Acadian Asset Management LLC increased its position in shares of 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 worth $3,653,000 after acquiring an additional 97,969 shares in the last quarter. Kennedy Capital Management LLC raised its holdings in shares of FARO Technologies by 105.1% in the 1st quarter. Kennedy Capital Management LLC now owns 437,589 shares of the scientific and technical instruments company’s stock worth $9,413,000 after acquiring an additional 224,273 shares during the last quarter. Finally, Divisar Capital Management LLC lifted its position in FARO Technologies by 5.1% in the 2nd 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 acquiring an additional 90,000 shares in the last quarter. 97.19% of the stock is currently owned by institutional investors and hedge funds.

FARO Technologies Stock Performance

Shares of FARO Technologies stock opened at $17.69 on Friday. The company’s 50 day moving average price is $17.86 and its two-hundred day moving average price is $17.55. The firm has a market capitalization of $344.96 million, a P/E ratio of -22.39 and a beta of 1.25. FARO Technologies has a fifty-two week low of $13.52 and a fifty-two week high of $24.80. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.33 and a quick ratio of 2.01.

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

Analyst Ratings Changes

FARO has been the subject of several research analyst reports. Needham & Company LLC lowered their price objective on shares of FARO Technologies from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Craig Hallum dropped their price objective on FARO Technologies from $29.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, August 9th.

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.