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

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

FARO Technologies Stock Up 1.1 %

FARO stock traded up $0.20 during trading on Friday, reaching $17.74. The stock had a trading volume of 6,424 shares, compared to its average volume of 168,990. FARO Technologies has a 1-year low of $13.52 and a 1-year high of $24.80. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.01 and a current ratio of 2.33. The firm has a fifty day moving average price of $17.84 and a 200 day moving average price of $17.55.

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

Insiders Place Their Bets

In other 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 of the company’s stock, valued at $2,233,363.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. CWM LLC boosted its stake 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 valued at $64,000 after buying an additional 968 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of FARO Technologies in the 3rd quarter worth approximately $141,000. Quarry LP boosted its holdings in FARO Technologies by 912.2% during the second quarter. Quarry LP now owns 1,832 shares of the scientific and technical instruments company’s stock worth $29,000 after buying an additional 1,651 shares in the last quarter. Divisar Capital Management LLC increased its holdings 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 buying an additional 90,000 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new stake in shares of FARO Technologies during the 2nd quarter valued at $901,000. 97.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FARO has been the topic of a number of recent analyst reports. Craig Hallum lowered their price target on shares of FARO Technologies from $29.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Needham & Company LLC reduced 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 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.