FARO Technologies, Inc. (NASDAQ:FARO) Sees Significant Decrease in Short Interest – MarketBeat
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FARO Technologies, Inc. (NASDAQ:FARO – Get Rating) saw a significant drop in short interest in October. As of October 31st, there was short interest totalling 486,100 shares, a drop of 6.9% from the October 15th total of 522,300 shares. Based on an average daily trading volume, of 108,700 shares, the short-interest ratio is presently 4.5 days.
Analysts Set New Price Targets
FARO has been the topic of several recent research reports. StockNews.com initiated coverage on FARO Technologies in a report on Wednesday, October 12th. They set a “hold” rating on the stock. DA Davidson lowered their price target on FARO Technologies from $50.00 to $40.00 in a research report on Thursday, August 4th. Finally, Needham & Company LLC lowered their price target on FARO Technologies from $40.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, November 3rd.
Institutional Investors Weigh In On FARO Technologies
A number of institutional investors have recently added to or reduced their stakes in the company. Texas Permanent School Fund grew its position in FARO Technologies by 2.3% during 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 buying an additional 293 shares in the last quarter. Quadrant Capital Group LLC grew its position in FARO Technologies by 74.5% during the second quarter. Quadrant Capital Group LLC now owns 834 shares of the scientific and technical instruments company’s stock worth $26,000 after buying an additional 356 shares in the last quarter. Mutual of America Capital Management LLC grew its position in FARO Technologies by 16.9% during 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 buying an additional 444 shares in the last quarter. Captrust Financial Advisors grew its position in FARO Technologies by 29.7% during the first quarter. Captrust Financial Advisors now owns 1,985 shares of the scientific and technical instruments company’s stock worth $103,000 after buying an additional 455 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in FARO Technologies by 15.0% during the first quarter. PNC Financial Services Group Inc. now owns 4,021 shares of the scientific and technical instruments company’s stock worth $208,000 after buying an additional 523 shares in the last quarter. 96.70% of the stock is owned by institutional investors and hedge funds.
FARO Technologies Stock Down 1.0 %
Shares of NASDAQ:FARO opened at $33.76 on Thursday. The stock’s 50-day moving average is $29.36 and its 200-day moving average is $31.53. FARO Technologies has a 52-week low of $25.20 and a 52-week high of $78.39.
About FARO Technologies
(Get Rating)
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.
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