FARO Technologies (NASDAQ:FARO) Sees Strong Trading Volume - Here's What Happened

FARO Technologies, Inc. (NASDAQ:FARO - Get Free Report) saw unusually-strong 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

A number of analysts recently issued reports on FARO shares. Wall Street Zen started coverage on FARO Technologies in a research note on Friday, May 16th. They set a "buy" rating on the stock. Craig Hallum lowered FARO Technologies from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Finally, Needham & Company LLC lowered FARO Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th.

FARO Technologies Stock Performance

The company has a market cap of $849.89 million, a PE ratio of -879.80 and a beta of 1.63. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.31 and a quick ratio of 2.01. The business has a 50-day moving average of $43.08 and a 200 day moving average of $33.93.

Institutional Trading of FARO Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. boosted its position in shares of FARO Technologies by 237.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,442,512 shares of the scientific and technical instruments company's stock worth $39,381,000 after purchasing an additional 1,014,731 shares in the last quarter. Driehaus Capital Management LLC boosted its position in shares of FARO Technologies by 107.4% in the 1st quarter. Driehaus Capital Management LLC now owns 735,269 shares of the scientific and technical instruments company's stock worth $20,073,000 after purchasing an additional 380,779 shares in the last quarter. Bastion Asset Management Inc. acquired a new stake in shares of FARO Technologies in the 4th quarter worth $5,892,000. Arrowstreet Capital Limited Partnership boosted its position in shares of FARO Technologies by 244.0% in 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 purchasing an additional 151,382 shares in the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of FARO Technologies in the 4th quarter worth $3,562,000. 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.