One of today's stocks on the move is FARO Technologies (NASDAQ:FARO), down 1.4% to $57.76. The S&P is trading lower by 0.3% to 2,055 and the Dow is trading 0.4% lower to 17,658.
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 $65.63 and a 52-week low of $39.75 and are now trading 45% above that low price at $57.76 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.7%.
There is potential upside of 16.0% for shares of FARO Technologies based on a current price of $57.76 and an average consensus analyst price target of $67.00. The stock should discover initial support at its 50-day moving average (MA) of $57.13 and subsequent support at its 200-day MA of $53.97.