FARO Technologies, Inc. (NASDAQ:FARO) was the recipient of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 706,900 shares, a decrease of 13.3% from the September 30th total of 815,100 shares. Currently, 4.1% of the company’s shares are short sold. Based on an average daily volume of 103,200 shares, the short-interest ratio is currently 6.8 days.

A number of research analysts have recently commented on FARO shares. ValuEngine upgraded shares of FARO Technologies from a “buy” rating to a “strong-buy” rating in a report on Friday, November 8th. BidaskClub cut shares of FARO Technologies from a “sell” rating to a “strong sell” rating in a report on Saturday. Needham & Company LLC reiterated a “hold” rating on shares of FARO Technologies in a report on Wednesday, October 16th. G.Research cut shares of FARO Technologies from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, Zacks Investment Research upgraded shares of FARO Technologies from a “sell” rating to a “hold” rating in a report on Thursday. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a strong buy rating to the company’s stock. FARO Technologies has a consensus rating of “Hold” and an average price target of $52.00.

Several large investors have recently bought and sold shares of the company. BBVA USA Bancshares Inc. acquired a new stake in FARO Technologies in the 3rd quarter valued at $613,000. Tower Research Capital LLC TRC grew its stake in FARO Technologies by 395.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 818 shares of the scientific and technical instruments company’s stock valued at $40,000 after acquiring an additional 653 shares during the period. Paradice Investment Management LLC grew its stake in FARO Technologies by 1.2% in the 3rd quarter. Paradice Investment Management LLC now owns 1,002,339 shares of the scientific and technical instruments company’s stock valued at $48,463,000 after acquiring an additional 11,601 shares during the period. Eagle Asset Management Inc. grew its stake in FARO Technologies by 80.3% in the 3rd quarter. Eagle Asset Management Inc. now owns 86,569 shares of the scientific and technical instruments company’s stock valued at $4,185,000 after acquiring an additional 38,563 shares during the period. Finally, California Public Employees Retirement System grew its stake in FARO Technologies by 41.1% in the 3rd quarter. California Public Employees Retirement System now owns 35,732 shares of the scientific and technical instruments company’s stock valued at $1,728,000 after acquiring an additional 10,400 shares during the period. 98.16% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:FARO traded up $0.42 during trading on Friday, reaching $48.86. The stock had a trading volume of 89,100 shares, compared to its average volume of 140,669. The company has a current ratio of 3.32, a quick ratio of 2.56 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $843.05 million, a P/E ratio of 106.22 and a beta of 1.71. The firm’s 50-day simple moving average is $48.00 and its 200 day simple moving average is $49.55. FARO Technologies has a one year low of $37.58 and a one year high of $57.58.

FARO Technologies (NASDAQ:FARO) last posted its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). The firm had revenue of $90.52 million during the quarter, compared to analyst estimates of $98.57 million. FARO Technologies had a negative net margin of 1.71% and a positive return on equity of 2.98%. The business’s quarterly revenue was down 9.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.09 EPS. Equities research analysts forecast that FARO Technologies will post -0.7 earnings per share for the current fiscal year.

About FARO Technologies

FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven three-dimensional (3D) measurement and imaging solutions. It operates through three segments: 3D Manufacturing, Construction BIM, and Emerging Verticals. The company offers FaroArm, a combination of a portable articulated measurement arm, a computer, and CAM2 software programs; and FARO ScanArm, a FaroArm equipped with a hard probe and non-contact laser line probe to measure products.

Read More: How to Invest in Growth Stocks

Receive News & Ratings for FARO Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FARO Technologies and related companies with MarketBeat.com's FREE daily email newsletter.