Craig Hallum Boosts FARO Technologies (NASDAQ:FARO) Price Target to $33.00

FARO Technologies (NASDAQ:FARO) had its price objective raised by Craig Hallum from $30.00 to $33.00 in a report published on Thursday morning,Benzinga reports. Craig Hallum currently has a buy rating on the scientific and technical instruments company’s stock.

Other research analysts have also recently issued reports about the stock. StockNews.com raised shares of FARO Technologies from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Needham & Company LLC increased their target price on FARO Technologies from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th.

FARO Technologies Stock Up 3.1 %

NASDAQ:FARO opened at $28.20 on Thursday. The firm’s fifty day moving average price is $22.48 and its two-hundred day moving average price is $18.93. The company has a current ratio of 2.17, a quick ratio of 1.83 and a debt-to-equity ratio of 0.27. FARO Technologies has a one year low of $13.52 and a one year high of $29.30.

Hedge Funds Weigh In On FARO Technologies

A number of hedge funds have recently bought and sold shares of FARO. Barclays PLC boosted its holdings in FARO Technologies by 41.4% in the 3rd quarter. Barclays PLC now owns 61,125 shares of the scientific and technical instruments company’s stock valued at $1,171,000 after purchasing an additional 17,892 shares during the period. Geode Capital Management LLC raised its position in shares of FARO Technologies by 4.4% in the third quarter. Geode Capital Management LLC now owns 450,899 shares of the scientific and technical instruments company’s stock valued at $8,633,000 after buying an additional 19,005 shares in the last quarter. Polar Asset Management Partners Inc. boosted its stake in shares of FARO Technologies by 0.4% in the third quarter. Polar Asset Management Partners Inc. now owns 676,796 shares of the scientific and technical instruments company’s stock valued at $12,954,000 after buying an additional 2,700 shares during the period. Needham Investment Management LLC grew its position in FARO Technologies by 20.0% during the third quarter. Needham Investment Management LLC now owns 1,029,250 shares of the scientific and technical instruments company’s stock worth $19,700,000 after buying an additional 171,300 shares in the last quarter. Finally, Invenomic Capital Management LP increased its stake in FARO Technologies by 23.2% during the 3rd quarter. Invenomic Capital Management LP now owns 396,830 shares of the scientific and technical instruments company’s stock worth $7,595,000 after acquiring an additional 74,631 shares during the period. 97.19% of the stock is owned by institutional investors.

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.