FARO Technologies, Inc. (NASDAQ:FARO) Short Interest Update

FARO Technologies, Inc. (NASDAQ:FARO) was the target of a significant decline in short interest during the month of September. As of September 15th, there was short interest totalling 1,500,000 shares, a decline of 9.1% from the August 31st total of 1,650,000 shares. Based on an average daily volume of 163,300 shares, the short-interest ratio is currently 9.2 days.

Insiders Place Their Bets

In other 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 transaction of $90,601.45. Following the completion of the sale, the chief executive officer now directly owns 133,975 shares of the company’s stock, valued at approximately $2,233,363.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On FARO Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Kennedy Capital Management LLC boosted its holdings in shares of FARO Technologies by 105.1% in 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 acquiring an additional 224,273 shares during the period. G2 Investment Partners Management LLC purchased a new position in FARO Technologies during the 4th quarter valued at about $3,423,000. Swedbank AB bought a new stake in shares of FARO Technologies during the first quarter valued at about $3,226,000. Acadian Asset Management LLC lifted its holdings in shares of FARO Technologies by 136.2% in 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 buying an additional 97,969 shares in the last quarter. Finally, Divisar Capital Management LLC boosted its position in shares of FARO Technologies by 5.1% in 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 acquiring an additional 90,000 shares during the period. Institutional investors own 97.19% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Craig Hallum lowered their price objective on shares of FARO Technologies from $29.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Needham & Company LLC lowered their price target on shares of FARO Technologies from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Friday, August 9th.

FARO Technologies Trading Up 0.4 %

Shares of FARO opened at $19.14 on Tuesday. FARO Technologies has a fifty-two week low of $12.34 and a fifty-two week high of $24.80. The business has a 50-day moving average of $16.88 and a 200 day moving average of $17.95. The firm has a market cap of $367.60 million, a P/E ratio of -8.51 and a beta of 1.25. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.01 and a current ratio of 2.33.

FARO Technologies (NASDAQ:FARO) last posted its earnings results on Thursday, August 8th. The scientific and technical instruments company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.14. The firm 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%.

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.