FARO Technologies (NASDAQ:FARO) Stock Price Passes Above 200-Day Moving Average - Here's What Happened

FARO Technologies, Inc. (NASDAQ:FARO - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $32.51 and traded as high as $43.96. FARO Technologies shares last traded at $43.90, with a volume of 229,797 shares.

Analysts Set New Price Targets

Several research firms recently commented on FARO. Needham & Company LLC lowered FARO Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Wall Street Zen began coverage on FARO Technologies in a report on Friday, May 16th. They set a "buy" rating on the stock. Finally, Craig Hallum lowered FARO Technologies from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th.

FARO Technologies Stock Performance

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 firm has a fifty day moving average of $41.31 and a 200 day moving average of $32.66. The stock has a market capitalization of $848.05 million, a price-to-earnings ratio of -877.90 and a beta of 1.63.

Institutional Trading of FARO Technologies

Several institutional investors have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. grew its holdings in FARO Technologies by 237.2% in the first 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 during the period. Dimensional Fund Advisors LP grew its holdings in FARO Technologies by 9.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 744,222 shares of the scientific and technical instruments company's stock valued at $18,874,000 after purchasing an additional 62,305 shares during the period. Driehaus Capital Management LLC lifted its position in shares of FARO Technologies by 107.4% in the first 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 acquiring an additional 380,779 shares in the last quarter. Bastion Asset Management Inc. lifted its position in shares of FARO Technologies by 50.0% in the first quarter. Bastion Asset Management Inc. now owns 347,263 shares of the scientific and technical instruments company's stock valued at $9,470,000 after acquiring an additional 115,740 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its position in shares of FARO Technologies by 14.2% in the first quarter. Acadian Asset Management LLC now owns 255,457 shares of the scientific and technical instruments company's stock valued at $6,972,000 after acquiring an additional 31,791 shares in the last quarter. 97.19% of the stock is owned by institutional investors and hedge funds.

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.