FARO Technologies, Inc. (NASDAQ:FARO) CFO Sells $43,364.00 in Stock

FARO Technologies, Inc. (NASDAQ:FARO) CFO Matthew Horwath sold 1,480 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $29.30, for a total value of $43,364.00. Following the completion of the sale, the chief financial officer now owns 39,430 shares of the company’s stock, valued at approximately $1,155,299. This trade represents a 3.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

FARO Technologies Stock Up 4.8 %

FARO traded up $1.32 on Tuesday, reaching $29.03. The company’s stock had a trading volume of 238,013 shares, compared to its average volume of 175,588. FARO Technologies, Inc. has a 1 year low of $13.52 and a 1 year high of $33.13. The business’s 50 day moving average is $29.32 and its 200 day moving average is $24.21. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.17 and a quick ratio of 1.83. The stock has a market cap of $551.05 million, a price-to-earnings ratio of -82.94 and a beta of 1.55.

FARO Technologies (NASDAQ:FARO) last announced its earnings results on Monday, February 24th. The scientific and technical instruments company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.10. FARO Technologies had a negative return on equity of 2.49% and a negative net margin of 1.87%. The company had revenue of $93.54 million for the quarter, compared to analyst estimates of $91.40 million. During the same period in the prior year, the company posted $0.36 EPS.

Analyst Ratings Changes

A number of equities analysts have weighed in on FARO shares. Needham & Company LLC upped their price target on FARO Technologies from $34.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. StockNews.com upgraded shares of FARO Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Craig Hallum raised their price target on shares of FARO Technologies from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, December 12th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. bought a new stake in shares of FARO Technologies in the 4th quarter worth about $10,849,000. Driehaus Capital Management LLC acquired a new position in FARO Technologies in the fourth quarter worth about $8,990,000. Royce & Associates LP increased its holdings in FARO Technologies by 20.0% in the third quarter. Royce & Associates LP now owns 1,409,031 shares of the scientific and technical instruments company’s stock valued at $26,969,000 after buying an additional 234,650 shares during the last quarter. Bastion Asset Management Inc. acquired a new stake in FARO Technologies during the fourth quarter valued at approximately $5,892,000. Finally, Needham Investment Management LLC lifted its holdings in FARO Technologies by 20.0% during the 3rd quarter. Needham Investment Management LLC now owns 1,029,250 shares of the scientific and technical instruments company’s stock worth $19,700,000 after buying an additional 171,300 shares during the last quarter. 97.19% of the stock is currently owned by institutional investors.

About FARO Technologies

FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven three-dimensional measurement, imaging, and realization solutions worldwide. The company offers FaroArm, a combination of a portable articulated measurement arm, a computer, and CAM2 software programs; FARO Laser Tracker, a combination of a portable large-volume laser measurement tool, a computer, and CAM2 software programs; FARO Laser Projector, which provides a virtual template that operators and assemblers can use to position components; FARO Laser Scanning Portfolio to measure and collect a cloud of data points for 3D rendering of an object or area; and FARO Mobile Laser Portfolio provides 3D scanning while attached to other mobile devices, such as drones for metrology, reverse engineering, factory automation, building information modeling, public safety, and other applications.