Shares of FARO Technologies Receive a Boost, Up 1.8%

Published on Wed, 03/18/2015 - 12:42
By Adrienne Chilton in Market movers, FARO, faro technologies, market movers, nasdaq:faro

FARO Technologies (NASDAQ:FARO) is one of today's notable stocks on the rise, up 1.8% to $59.72. The Dow Jones Industrial Average is now trading 0.7% lower to 17,728 and the S&P is trading 0.5% lower to 2,064.

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 has overhead space with shares priced $59.72, or 10.9% below the average consensus analyst price target of $67.00. The stock should find initial support at its 50-day moving average (MA) of $56.47 and further support at its 200-day MA of $53.47.

Over the past year, FARO Technologies has traded in a range of $39.75 to $65.63 and is now at $59.72, 50% above that low. The 200-day and 50-day moving averages have moved 0.43% higher and 0.49% lower over the past week, respectively.

By Adrienne Chilton
achilton@fnno.com

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