The stock is trading at $51.80 quite a bit above the 50 day moving average which is $38.80 and which is quite a bit above the 200 day moving average of $36.68. The 50 day moving average was up by +33.51% and the 200 day average was up $15.12. Trading was heavy with 282K shares changing hands in the last trading session. Volume was up 58.30% over the stocks average daily volume.
Short traders are feeling a little more bullish recently as implied by the motion in short interest. The stock recorded a fall in short interest between September 29, 2017 and October 13, 2017 of -11.12%. Short interest decreased from 774,832 to 688,646 over that timeframe. Days to cover decreased -4.0 to 5.0 and the percentage of shorted shares was 0.04% on October 13.
These funds have shifted positions in (FARO). As of quarter end Cwm, LLC had sold 502 shares trimming its position 1.0%. The value of the total investment in FARO Technologies, Inc. went from $1,856,000 to $1,859,000 a change of 0.2% quarter to quarter. Baillie Gifford & Co bolstered its position by buying 10,424 shares an increase of 23.7% in the quarter. Baillie Gifford & Co controls 54,324 shares with a value of $2,078,000. The value of the position overall is up by 25.3%.
Aperio Group, LLC grew its stake by buying 57 shares an increase of 1.0% as of 09/30/2017. Aperio Group, LLC currently owns 5,984 shares valued at $229,000. The total value of its holdings increased 2.2%. As of the end of the quarter Simplex Trading, LLC had acquired a total of 375 shares growing its stake by 110.0%. The value of the investment in FARO Technologies, Inc. increased from $12,000 to $27,000 a change of $15,000 quarter over quarter.
August 3 investment analysts at Canaccord Genuity held the stock rating at “Buy” but moved up the price target from $32.00 to $42.00.
In the latest earnings report the EPS was $-0.03 and is estimated to be $0.02 for the current year with 16,708,000 shares outstanding. Analysts expect next quarter’s EPS to be $-0.01 and the next full year EPS is projected to be $0.98.
FARO Technologies, Inc., launched on December 28, 1992, designs, develops, manufactures, markets and supports software driven, three-dimensional (3-D) measurement, imaging and realization systems. The Company operates in three segments: Factory Metrology, Construction BIM-CIM and Other. The Company sells its products through a direct sales force across a number of customers in a range of manufacturing, industrial, architecture, surveying, building construction and law enforcement applications. The Business’s FaroArm, FARO Laser ScanArm, FARO Gage, FARO Laser Tracker, FARO Cobalt Array 3D Imager AMP, and their companion CAM2 software provide for Computer-Aided Design (CAD)-based inspection and/or factory-level statistical process control and surveying..