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Stock Investors Sell Off Shares of FARO Technologies, Down 1.4%

Published on Fri, 04/26/2013 - 10:36
By Robert Cotter

FARO Technologies (NASDAQ:FARO), a company whose shares are moving quickly, is trading 1.4% lower to $36.92. The Dow is trading fractionally higher to 14,721 and the S&P is currently down 0.2% to 1,582.

Potential upside of 25.3% exists for FARO Technologies, based on a current level of $36.92 and analysts' average consensus price target of $46.25. The stock should find initial resistance at its 200-day moving average (MA) of $38.13 and further resistance at its 50-day MA of $40.38.

In the past 52 weeks, FARO Technologies share prices have been bracketed by a low of $31.10 and a high of $57.93 and are now at $36.92, 19% above that low price. The 200-day and 50-day moving averages have moved 0.22% lower and 0.27% higher over the past week, respectively.

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.

By Robert Cotter
rcotter@fnno.com

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