FARO Technologies (NASDAQ:FARO) Hits New 1-Year High - Should You Buy?

Shares of FARO Technologies, Inc. (NASDAQ:FARO - Get Free Report) hit a new 52-week high on Monday . The company traded as high as $43.90 and last traded at $43.75, with a volume of 565722 shares changing hands. The stock had previously closed at $42.49.

Analyst Ratings Changes

A number of research firms have recently weighed in on FARO. Wall Street Zen assumed coverage on shares of FARO Technologies in a research note on Friday, May 16th. They issued a "buy" rating on the stock. Needham & Company LLC downgraded shares of FARO Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Finally, Craig Hallum cut shares of FARO Technologies from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th.

FARO Technologies Price Performance

The stock has a market cap of $842.19 million, a P/E ratio of -125.15 and a beta of 1.63. The business's 50-day simple moving average is $35.88 and its two-hundred day simple moving average is $30.94. The company has a quick ratio of 1.83, a current ratio of 2.17 and a debt-to-equity ratio of 0.27.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FARO. Millennium Management LLC grew its position in FARO Technologies by 0.8% during the fourth quarter. Millennium Management LLC now owns 54,069 shares of the scientific and technical instruments company's stock valued at $1,371,000 after buying an additional 439 shares during the period. Lazard Asset Management LLC purchased a new stake in FARO Technologies in the fourth quarter worth about $78,000. Rhumbline Advisers raised its stake in shares of FARO Technologies by 4.5% in the fourth quarter. Rhumbline Advisers now owns 31,279 shares of the scientific and technical instruments company's stock worth $793,000 after buying an additional 1,333 shares during the period. Wells Fargo & Company MN lifted its position in shares of FARO Technologies by 27.7% during the 4th quarter. Wells Fargo & Company MN now owns 12,307 shares of the scientific and technical instruments company's stock valued at $312,000 after buying an additional 2,672 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of FARO Technologies by 21.8% during the 4th quarter. American Century Companies Inc. now owns 31,048 shares of the scientific and technical instruments company's stock valued at $787,000 after acquiring an additional 5,567 shares during the period. Institutional investors own 97.19% of the company's stock.

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.

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