FARO Technologies (NASDAQ:FARO) Sees Unusually-High Trading Volume - Here's Why

FARO Technologies, Inc. (NASDAQ:FARO - Get Free Report) saw unusually-high trading volume on Friday . Approximately 1,325,846 shares were traded during trading, an increase of 262% from the previous session's volume of 366,482 shares.The stock last traded at $44.00 and had previously closed at $43.78.

Analyst Upgrades and Downgrades

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

FARO Technologies Price Performance

The firm's fifty day moving average is $43.08 and its 200 day moving average is $33.99. The company has a current ratio of 2.31, a quick ratio of 2.01 and a debt-to-equity ratio of 0.27. The stock has a market cap of $849.89 million, a P/E ratio of -879.80 and a beta of 1.63.

Hedge Funds Weigh In On FARO Technologies

Several large investors have recently modified their holdings of FARO. T. Rowe Price Investment Management Inc. increased its stake in FARO Technologies by 237.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,442,512 shares of the scientific and technical instruments company's stock valued at $39,381,000 after purchasing an additional 1,014,731 shares in the last quarter. Driehaus Capital Management LLC grew its stake in shares of FARO Technologies by 107.4% during the 1st quarter. Driehaus Capital Management LLC now owns 735,269 shares of the scientific and technical instruments company's stock valued at $20,073,000 after purchasing an additional 380,779 shares during the period. Bastion Asset Management Inc. purchased a new position in FARO Technologies in the 4th quarter worth approximately $5,892,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of FARO Technologies by 244.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 213,423 shares of the scientific and technical instruments company's stock worth $5,412,000 after acquiring an additional 151,382 shares in the last quarter. Finally, Informed Momentum Co LLC raised its holdings in FARO Technologies by 212.4% during the 1st quarter. Informed Momentum Co LLC now owns 125,734 shares of the scientific and technical instruments company's stock valued at $3,433,000 after buying an additional 85,483 shares during the period. 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.