NEW YORK (

TheStreet

) -- Shares of

Faro Technologies

(Nasdaq:

FARO

) were gapping up Thursday morning with an open price 11.9% higher than Wednesday's closing price. The stock closed at $29.84 Wednesday and opened today's trading at $33.38.

The average volume for Faro has been 63,100 shares per day over the past 30 days. Faro has a market cap of $491.2 million and is part of the

technology

sector and

electronics

industry. Shares are down 9.1% year to date as of the close of trading on Wednesday.

FARO Technologies, Inc. designs, develops, manufactures, markets, and supports portable, software driven, 3-D measurement systems used in a range of manufacturing, industrial, building construction, and forensic applications. The company has a P/E ratio of 89.4, equal to the average electronics industry P/E ratio and above the S&P 500 P/E ratio of 22.7.

TheStreet Ratings rates Faro as a buy. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full

Faro Ratings Report

.

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