Insider Selling: FARO Technologies, Inc. (NASDAQ:FARO) CFO Sells 1,480 Shares of Stock

FARO Technologies, Inc. (NASDAQ:FARO) CFO Matthew Horwath sold 1,480 shares of the firm’s 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 transaction, the chief financial officer now owns 39,430 shares of the company’s stock, valued at $1,155,299. The trade was a 3.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

FARO Technologies Trading Down 0.7 %

FARO Technologies stock opened at $28.18 on Friday. FARO Technologies, Inc. has a 52 week low of $13.52 and a 52 week high of $33.13. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.83 and a current ratio of 2.17. The stock has a market capitalization of $534.91 million, a P/E ratio of -80.51 and a beta of 1.55. The stock has a 50-day simple moving average of $29.46 and a 200 day simple moving average of $24.32.

FARO Technologies (NASDAQ:FARO) last posted its quarterly earnings results on Monday, February 24th. The scientific and technical instruments company reported $0.50 EPS for the quarter, topping 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 business had revenue of $93.54 million during the quarter, compared to analysts’ expectations of $91.40 million. During the same quarter last year, the company posted $0.36 earnings per share.

Analyst Ratings Changes

Several equities analysts have recently weighed in on FARO shares. Needham & Company LLC raised their price objective on FARO Technologies from $34.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. StockNews.com upgraded FARO Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 8th. Finally, Craig Hallum lifted their price target on FARO Technologies from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, December 12th.

Institutional Investors Weigh In On FARO Technologies

Several hedge funds have recently bought and sold shares of the stock. Millennium Management LLC lifted its position in FARO Technologies by 0.8% during the fourth quarter. Millennium Management LLC now owns 54,069 shares of the scientific and technical instruments company’s stock worth $1,371,000 after acquiring an additional 439 shares during the last quarter. SG Americas Securities LLC lifted its position in FARO Technologies by 13.1% during the fourth quarter. SG Americas Securities LLC now owns 8,345 shares of the scientific and technical instruments company’s stock worth $212,000 after acquiring an additional 966 shares during the last quarter. Quarry LP acquired a new stake in FARO Technologies during the fourth quarter worth approximately $25,000. Price T Rowe Associates Inc. MD lifted its position in FARO Technologies by 3.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,129 shares of the scientific and technical instruments company’s stock worth $942,000 after acquiring an additional 1,314 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in FARO Technologies by 4.5% during the fourth quarter. Rhumbline Advisers now owns 31,279 shares of the scientific and technical instruments company’s stock worth $793,000 after acquiring an additional 1,333 shares during the last quarter. 97.19% of the stock is currently owned by institutional investors and hedge funds.

FARO Technologies Company Profile

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.