FARO Technologies (NASDAQ:FARO – Get Free Report) had its target price reduced by Needham & Company LLC from $27.00 to $24.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the scientific and technical instruments company’s stock. Needham & Company LLC’s target price points to a potential upside of 58.21% from the company’s current price.
A number of other equities research analysts have also weighed in on FARO. StockNews.com raised shares of FARO Technologies from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Craig Hallum cut their target price on shares of FARO Technologies from $29.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday.
View Our Latest Stock Analysis on FARO Technologies
FARO Technologies Trading Up 5.3 %
FARO Technologies (NASDAQ:FARO – Get Free Report) last announced its earnings results on Thursday, August 8th. The scientific and technical instruments company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.14. The firm had revenue of $82.09 million for the quarter. FARO Technologies had a negative net margin of 11.92% and a negative return on equity of 16.09%.
Insider Buying and Selling
In related news, Director Yuval Wasserman sold 10,149 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $16.52, for a total transaction of $167,661.48. Following the sale, the director now owns 183,476 shares of the company’s stock, valued at $3,031,023.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 30,036 shares of company stock valued at $518,303 over the last quarter. Corporate insiders own 2.10% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of FARO. Mirae Asset Global Investments Co. Ltd. raised its holdings in FARO Technologies by 1.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 257,109 shares of the scientific and technical instruments company’s stock worth $5,793,000 after buying an additional 4,610 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in FARO Technologies by 16.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,420 shares of the scientific and technical instruments company’s stock worth $145,000 after buying an additional 900 shares during the last quarter. Signaturefd LLC purchased a new position in FARO Technologies in the fourth quarter worth about $292,000. Bailard Inc. purchased a new position in FARO Technologies in the fourth quarter worth about $256,000. Finally, Semanteon Capital Management LP purchased a new position in FARO Technologies in the fourth quarter worth about $317,000. 97.19% of the stock is owned by hedge funds and other institutional investors.
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.
Recommended Stories
- Five stocks we like better than FARO Technologies
- Trading Stocks: RSI and Why it’s Useful
- Why Wall Street Analysts Raised Price Targets for Suncor Stock
- Russell 2000 Index, How Investors Use it For Profitable Trading
- Is Super Micro Computer a Buy After Shares Sink 20% on Earnings?
- Stock Market Sectors: What Are They and How Many Are There?
- MarketBeat Week in Review – 8/5 – 8/9
Receive News & Ratings for FARO Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FARO Technologies and related companies with MarketBeat.com's FREE daily email newsletter.