FARO Technologies (NASDAQ:FARO) Sets New 12-Month High - Time to Buy?

FARO Technologies, Inc. (NASDAQ:FARO - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $42.67 and last traded at $42.60, with a volume of 172200 shares. The stock had previously closed at $42.43.

Analyst Upgrades and Downgrades

FARO has been the subject of several analyst reports. Craig Hallum cut shares of FARO Technologies from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Wall Street Zen initiated coverage on shares of FARO Technologies in a report on Friday, May 16th. They set a "buy" rating for the company. Finally, Needham & Company LLC downgraded FARO Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th.

FARO Technologies Trading Down 0.0%

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 business has a fifty day simple moving average of $34.75 and a 200 day simple moving average of $30.58. The company has a market cap of $818.74 million, a price-to-earnings ratio of -121.64 and a beta of 1.63.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP purchased a new position in FARO Technologies during the fourth quarter worth approximately $25,000. National Bank of Canada FI purchased a new position in FARO Technologies during the fourth quarter worth approximately $55,000. Lazard Asset Management LLC purchased a new position in FARO Technologies during the fourth quarter worth approximately $78,000. Covestor Ltd purchased a new position in FARO Technologies during the fourth quarter worth approximately $111,000. Finally, Aquatic Capital Management LLC purchased a new position in FARO Technologies during the fourth quarter worth approximately $155,000. Institutional investors and hedge funds own 97.19% of the company's stock.

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.