FARO Technologies (NASDAQ:FARO) Stock Passes Above 200 Day Moving Average - What's Next?

FARO Technologies, Inc. (NASDAQ:FARO - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $33.55 and traded as high as $44.00. FARO Technologies shares last traded at $43.90, with a volume of 752,080 shares traded.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Wall Street Zen assumed coverage on FARO Technologies in a report on Friday, May 16th. They set a "buy" rating on the stock. Craig Hallum cut FARO Technologies from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Finally, Needham & Company LLC cut FARO Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th.

FARO Technologies Trading Up 0.1%

The company has a market cap of $846.89 million, a PE ratio of -876.70 and a beta of 1.63. The business has a 50 day simple moving average of $43.04 and a two-hundred day simple moving average of $33.74. The company has a current ratio of 2.31, a quick ratio of 2.01 and a debt-to-equity ratio of 0.27.

Institutional Trading of FARO Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP purchased a new stake in shares of FARO Technologies during the fourth quarter worth about $25,000. National Bank of Canada FI purchased a new stake in shares of FARO Technologies during the fourth quarter worth about $55,000. Lazard Asset Management LLC purchased a new stake in shares of FARO Technologies during the fourth quarter worth about $78,000. Covestor Ltd purchased a new stake in shares of FARO Technologies during the fourth quarter worth about $111,000. Finally, Aquatic Capital Management LLC acquired a new position in FARO Technologies in the fourth quarter worth about $155,000. 97.19% of the stock is owned by hedge funds and other institutional investors.

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.