FARO Technologies, Inc. (NASDAQ:FARO – Get Rating) saw a significant drop in short interest in August. As of August 31st, there was short interest totalling 588,400 shares, a drop of 9.0% from the August 15th total of 646,900 shares. Based on an average trading volume of 129,900 shares, the short-interest ratio is presently 4.5 days. Currently, 3.3% of the company's stock are sold short.
Analyst Ratings Changes
Several equities research analysts recently weighed in on the stock. DA Davidson reduced their price target on shares of FARO Technologies from $50.00 to $40.00 in a research report on Thursday, August 4th. Needham & Company LLC reduced their price target on shares of FARO Technologies from $50.00 to $40.00 and set a "buy" rating for the company in a research report on Thursday, August 4th.
Get FARO Technologies alerts:Institutional Trading of FARO Technologies
Several hedge funds have recently made changes to their positions in FARO. Quadrant Capital Group LLC grew its stake in FARO Technologies by 1,191.9% in the 1st quarter. Quadrant Capital Group LLC now owns 478 shares of the scientific and technical instruments company's stock worth $25,000 after acquiring an additional 441 shares in the last quarter. Advisor Group Holdings Inc. lifted its position in shares of FARO Technologies by 40.1% in the 4th quarter. Advisor Group Holdings Inc. now owns 702 shares of the scientific and technical instruments company's stock worth $49,000 after purchasing an additional 201 shares during the period. KBC Group NV purchased a new stake in shares of FARO Technologies in the 2nd quarter worth approximately $48,000. Captrust Financial Advisors lifted its position in shares of FARO Technologies by 29.7% in the 1st 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 period. Finally, Moisand Fitzgerald Tamayo LLC purchased a new stake in shares of FARO Technologies in the 2nd quarter worth approximately $92,000. 96.70% of the stock is currently owned by hedge funds and other institutional investors.
FARO Technologies Stock Up 0.8 %
Shares of FARO traded up $0.25 during trading hours on Wednesday, reaching $30.75. 2,370 shares of the stock traded hands, compared to its average volume of 96,089. FARO Technologies has a 52-week low of $27.84 and a 52-week high of $83.39. The company's 50-day moving average price is $33.64 and its two-hundred day moving average price is $37.54.About FARO Technologies
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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.
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