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

Shares of FARO Technologies, Inc. (NASDAQ:FARO - Get Free Report) reached 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.

Wall Street Analyst Weigh In

FARO has been the topic of several analyst reports. Craig Hallum cut FARO Technologies from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Needham & Company LLC cut shares of FARO Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Finally, Wall Street Zen started coverage on shares of FARO Technologies in a research note on Friday, May 16th. They issued a "buy" rating on the stock.

FARO Technologies Stock Performance

The firm has a market capitalization of $845.83 million, a P/E ratio of -875.60 and a beta of 1.63. The company has a quick ratio of 2.01, a current ratio of 2.31 and a debt-to-equity ratio of 0.27. The firm's 50-day simple moving average is $37.39 and its 200-day simple moving average is $31.36.

Institutional Trading of FARO Technologies

A number of hedge funds have recently made changes to their positions in the stock. Millennium Management LLC raised 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 purchasing an additional 439 shares in the last quarter. Quarry LP bought a new position in shares of FARO Technologies during the 4th quarter valued at about $25,000. National Bank of Canada FI increased its position in shares of FARO Technologies by 50.5% during the 1st quarter. National Bank of Canada FI now owns 3,262 shares of the scientific and technical instruments company's stock valued at $89,000 after purchasing an additional 1,094 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of FARO Technologies by 3.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,129 shares of the scientific and technical instruments company's stock valued at $942,000 after buying an additional 1,314 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in FARO Technologies by 4.5% in the 4th 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 last quarter. 97.19% of the stock is owned by institutional investors.

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.