FARO Technologies, Inc. (NASDAQ:FARO) Short Interest Down 9.8% in September – MarketBeat
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FARO Technologies, Inc. (NASDAQ:FARO – Get Rating) saw a large drop in short interest in September. As of September 15th, there was short interest totalling 530,900 shares, a drop of 9.8% from the August 31st total of 588,400 shares. Approximately 2.9% of the company’s stock are sold short. Based on an average daily trading volume, of 120,300 shares, the short-interest ratio is currently 4.4 days.
Wall Street Analysts Forecast Growth
FARO has been the subject of a number of analyst reports. Needham & Company LLC reduced their price objective on FARO Technologies from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, August 4th. DA Davidson reduced their target price on FARO Technologies from $50.00 to $40.00 in a report on Thursday, August 4th.
FARO Technologies Stock Down 0.4 %
Shares of FARO Technologies stock traded down $0.12 on Friday, reaching $27.44. The company’s stock had a trading volume of 114,356 shares, compared to its average volume of 101,699. The firm’s fifty day simple moving average is $33.27 and its two-hundred day simple moving average is $36.18. FARO Technologies has a 52 week low of $26.60 and a 52 week high of $83.39.
FARO Technologies (NASDAQ:FARO – Get Rating) last released its earnings results on Wednesday, August 3rd. The scientific and technical instruments company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.03). The company had revenue of $79.92 million for the quarter. FARO Technologies had a negative net margin of 16.02% and a negative return on equity of 16.58%.
Institutional Investors Weigh In On FARO Technologies
Institutional investors and hedge funds have recently bought and sold shares of the business. King Luther Capital Management Corp increased its holdings in shares of FARO Technologies by 1.0% in the fourth quarter. King Luther Capital Management Corp now owns 25,650 shares of the scientific and technical instruments company’s stock worth $1,796,000 after purchasing an additional 250 shares during the last quarter. Texas Permanent School Fund increased its holdings in shares of FARO Technologies by 2.3% in the second quarter. Texas Permanent School Fund now owns 13,199 shares of the scientific and technical instruments company’s stock worth $407,000 after purchasing an additional 293 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in shares of FARO Technologies by 74.5% in the second quarter. Quadrant Capital Group LLC now owns 834 shares of the scientific and technical instruments company’s stock worth $26,000 after purchasing an additional 356 shares during the last quarter. Mutual of America Capital Management LLC increased its holdings in shares of FARO Technologies by 16.9% in the second quarter. Mutual of America Capital Management LLC now owns 3,067 shares of the scientific and technical instruments company’s stock worth $95,000 after purchasing an additional 444 shares during the last quarter. Finally, Captrust Financial Advisors increased its holdings in shares of FARO Technologies by 29.7% in the first quarter. Captrust Financial Advisors now owns 1,985 shares of the scientific and technical instruments company’s stock worth $103,000 after purchasing an additional 455 shares during the last quarter. 96.70% of the stock is owned by institutional investors.
FARO Technologies Company Profile
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FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven three-dimensional measurement, imaging, and realization solutions in North America, South America, Europe, the Middle East, Africa, and the Asia-Pacific. 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 quickly and accurate position components; and FARO Laser Scanning Portfolio to measure and collect a cloud of data points.
Further Reading
- Get a free copy of the StockNews.com research report on FARO Technologies (FARO)
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