FARO Technologies Inc. (FARO) saw a big move last session, as the company’s shares fell by nearly 6% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for FARO, as the stock is now down 18.3% since Dec 26.
Although this slump was obviously disappointing, the developer and marketer of portable coordinate measuring machines and 3D imaging devices has seen its current year earnings consensus has moved higher over the past few weeks. This suggests that the recent slump might be a temporary blip on the radar for FARO. So make sure to keep an eye on this stock going forward to see if yesterday’s price decline is confirmed by more weakness, or if it can rebound in the weeks ahead.
FARO currently has a Zacks Rank #4 (Sell) while its Earnings ESP is 0.00%.
A better-ranked stock in the same sector is Fortinet Inc. (FTNT), holding a Zacks Rank #2 (Buy).
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FARO TECH INC (FARO): Free Stock Analysis Report
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