NEW YORK ( TheStreet) -- Faro Technologies (Nasdaq: FARO) hit a new 52-week high Monday as it is currently trading at $48.95, above its previous 52-week high of $48.93 with 4,379 shares traded as of 10:10 a.m. ET. Average volume has been 93,100 shares over the past 30 days.

Faro has a market cap of $784.8 million and is part of the technology sector and electronics industry. Shares are up 45% year to date as of the close of trading on Friday.

Faro Technologies, Inc. designs, develops, manufactures, markets, and supports software-based three-dimensional measurement and imaging systems for manufacturing, industrial, building construction, and forensic applications in the Americas, Europe, Africa, and the Asia Pacific. The company has a P/E ratio of 41.8, equal to the average electronics industry P/E ratio and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Faro as a buy. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, robust revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full Faro Ratings Report.

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