FARO Technologies, Inc. (NASDAQ:FARO) Short Interest Up 7.9% in January

FARO Technologies, Inc. (NASDAQ:FARO) saw a significant increase in short interest in January. As of January 31st, there was short interest totalling 967,000 shares, an increase of 7.9% from the January 15th total of 896,400 shares. Based on an average daily volume of 213,500 shares, the days-to-cover ratio is currently 4.5 days.

FARO Technologies Stock Up 3.3 %

Shares of NASDAQ:FARO traded up $0.94 during trading on Tuesday, hitting $29.38. The company’s stock had a trading volume of 255,476 shares, compared to its average volume of 234,609. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.83 and a current ratio of 2.17. FARO Technologies has a fifty-two week low of $13.52 and a fifty-two week high of $32.90. The stock’s 50-day moving average price is $28.35 and its two-hundred day moving average price is $22.68. The company has a market capitalization of $555.87 million, a PE ratio of -83.94 and a beta of 1.40.

Insiders Place Their Bets

In other FARO Technologies news, Director Yuval Wasserman sold 5,658 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $31.35, for a total transaction of $177,378.30. Following the transaction, the director now owns 153,512 shares in the company, valued at $4,812,601.20. The trade was a 3.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Harvey Partners LLC increased its holdings in FARO Technologies by 17.8% in the third quarter. Harvey Partners LLC now owns 1,006,000 shares of the scientific and technical instruments company’s stock valued at $19,255,000 after buying an additional 152,000 shares during the last quarter. Quest Partners LLC increased its holdings in FARO Technologies by 196.7% in the third quarter. Quest Partners LLC now owns 31,622 shares of the scientific and technical instruments company’s stock valued at $605,000 after buying an additional 20,963 shares during the last quarter. Barclays PLC increased its holdings in FARO Technologies by 41.4% in the third quarter. Barclays PLC now owns 61,125 shares of the scientific and technical instruments company’s stock valued at $1,171,000 after buying an additional 17,892 shares during the last quarter. Geode Capital Management LLC increased its holdings in FARO Technologies by 4.4% in the third quarter. Geode Capital Management LLC now owns 450,899 shares of the scientific and technical instruments company’s stock valued at $8,633,000 after buying an additional 19,005 shares during the last quarter. Finally, Royce & Associates LP increased its holdings in FARO Technologies by 20.0% in the third quarter. Royce & Associates LP now owns 1,409,031 shares of the scientific and technical instruments company’s stock valued at $26,969,000 after buying an additional 234,650 shares during the last quarter. Institutional investors and hedge funds own 97.19% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on FARO. Craig Hallum boosted their price objective on FARO Technologies from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. StockNews.com upgraded FARO Technologies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Finally, Needham & Company LLC boosted their price target on FARO Technologies from $26.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th.

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.