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

FARO Technologies, Inc. (NASDAQ:FAROGet Free Report) saw a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 1,520,000 shares, an increase of 36.9% from the April 30th total of 1,110,000 shares. Currently, 8.2% of the company’s stock are short sold. Based on an average daily volume of 619,900 shares, the days-to-cover ratio is currently 2.5 days.

Insider Buying and Selling at FARO Technologies

In related news, CEO Peter James Lau sold 4,617 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $29.30, for a total transaction of $135,278.10. Following the completion of the sale, the chief executive officer now directly owns 160,076 shares in the company, valued at approximately $4,690,226.80. This trade represents a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Matthew Horwath sold 1,480 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $29.30, for a total transaction of $43,364.00. Following the transaction, the chief financial officer now directly owns 39,430 shares in the company, valued at $1,155,299. The trade was a 3.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP bought a new stake in FARO Technologies during the fourth quarter worth approximately $25,000. National Bank of Canada FI acquired a new stake in shares of FARO Technologies in the fourth quarter worth $55,000. Lazard Asset Management LLC bought a new stake in shares of FARO Technologies during the 4th quarter worth $78,000. Covestor Ltd acquired a new position in FARO Technologies in the 4th quarter valued at $111,000. Finally, Aquatic Capital Management LLC acquired a new position in FARO Technologies in the 4th quarter valued at $155,000. Institutional investors own 97.19% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on FARO. Craig Hallum lowered shares of FARO Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, May 6th. Wall Street Zen began coverage on FARO Technologies in a research report on Friday, May 16th. They set a “buy” rating for the company. Finally, Needham & Company LLC lowered FARO Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, May 7th.

Read Our Latest Stock Report on FARO Technologies

FARO Technologies Price Performance

NASDAQ FARO opened at $42.46 on Wednesday. The company has a quick ratio of 1.83, a current ratio of 2.17 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $816.34 million, a PE ratio of -121.31 and a beta of 1.49. FARO Technologies has a 12-month low of $13.52 and a 12-month high of $42.64. The company has a 50 day moving average price of $33.21 and a two-hundred day moving average price of $30.00.

FARO Technologies Company Profile

(Get Free Report)

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.

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