• Return to Headlines

Upgrade Alert for FARO Technologies (FARO)

By Amy Schwartz

FARO Technologies (NASDAQ:FARO) was upgraded from Hold to Buy at Noble Financial today. The stock closed yesterday at $34.84 on volume of 239,000 shares, above average daily volume of 119,000.

FARO Technologies (NASDAQ:FARO) defies analysts with a current price ($34.84) 3.8% above its average consensus price target of $33.50. FARO Technologies shares have support at the 200-day moving average (MA) of $32.01 and additional support at the 50-day MA of $31.36.

FARO Technologies, Inc. designs, develops, and markets software and portable, computerized measurement devices. The Company's products allow manufacturers to perform three-dimensional inspections of parts and assemblies on the shop floor. This helps eliminate manufacturing errors, and thereby increases productivity for a variety of industries in FARO's worldwide customer base.

FARO Technologies share prices have moved between a 52-week high of $48.36 and a 52-week low of $20.72 and closed yesterday at 68% above that low price at $34.84 per share. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 1.3%.

SmarTrend is monitoring the recent change of momentum in FARO Technologies. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of FARO Technologies in search of a potential trend change.

Keywords: analyst upgrades/downgrades faro technologies

Ticker(s): FARO