FARO Technologies (NASDAQ:FARO) PT Lowered to $40.00

FARO Technologies (NASDAQ:FARO – Get Rating) had its price objective dropped by research analysts at DA Davidson from $50.00 to $40.00 in a research note issued on Thursday, The Fly reports. DA Davidson’s price target would indicate a potential upside of 10.53% from the company’s current price.

FARO has been the subject of a number of other reports. Robert W. Baird dropped their price objective on FARO Technologies from $62.00 to $50.00 in a report on Thursday, April 28th. Craig Hallum downgraded FARO Technologies from a “buy” rating to a “hold” rating and lowered their price target for the company from $74.00 to $40.00 in a report on Thursday, April 28th. Finally, Needham & Company LLC lowered their price target on FARO Technologies from $50.00 to $40.00 and set a “buy” rating for the company in a report on Thursday.

FARO Technologies Stock Up 1.1 %

FARO stock opened at $36.19 on Thursday. The company has a market cap of $660.87 million, a price-to-earnings ratio of -12.27 and a beta of 1.46. The business has a fifty day simple moving average of $31.23 and a 200-day simple moving average of $42.04. FARO Technologies has a 52 week low of $27.84 and a 52 week high of $83.39.

Institutional Trading of FARO Technologies

Several large investors have recently modified their holdings of FARO. Allspring Global Investments Holdings LLC acquired a new stake in shares of FARO Technologies during the fourth quarter valued at about $8,663,000. Yousif Capital Management LLC acquired a new stake in shares of FARO Technologies during the fourth quarter valued at about $1,157,000. Assenagon Asset Management S.A. acquired a new stake in shares of FARO Technologies during the fourth quarter valued at about $776,000. Emerald Mutual Fund Advisers Trust grew its stake in shares of FARO Technologies by 5.0% during the fourth quarter. Emerald Mutual Fund Advisers Trust now owns 253,317 shares of the scientific and technical instruments company’s stock valued at $17,737,000 after acquiring an additional 12,000 shares in the last quarter. Finally, Eos Focused Equity Management L.P. grew its stake in shares of FARO Technologies by 17.2% during the fourth quarter. Eos Focused Equity Management L.P. now owns 56,907 shares of the scientific and technical instruments company’s stock valued at $3,985,000 after acquiring an additional 8,355 shares in the last quarter. 97.29% of the stock is currently owned by institutional investors and hedge funds.

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.