Insider Selling: FARO Technologies, Inc. (NASDAQ:FARO) CEO Sells 4,617 Shares of Stock

FARO Technologies, Inc. (NASDAQ:FARO) CEO Peter James Lau sold 4,617 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $29.30, for a total value of $135,278.10. Following the completion of the sale, the chief executive officer now directly owns 160,076 shares of the company’s stock, valued at $4,690,226.80. The trade was a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

FARO Technologies Price Performance

Shares of NASDAQ FARO opened at $28.18 on Friday. 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 company has a market cap of $534.91 million, a PE ratio of -80.51 and a beta of 1.55. The stock has a fifty day moving average price of $29.46 and a 200 day moving average price of $24.32. FARO Technologies, Inc. has a 1-year low of $13.52 and a 1-year high of $33.13.

FARO Technologies (NASDAQ:FARO) last released its earnings results on Monday, February 24th. The scientific and technical instruments company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.40 by $0.10. FARO Technologies had a negative net margin of 1.87% and a negative return on equity of 2.49%. The company had revenue of $93.54 million during the quarter, compared to analysts’ expectations of $91.40 million. During the same quarter last year, the business earned $0.36 EPS.

Institutional Investors Weigh In On FARO Technologies

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new position in shares of FARO Technologies during the 4th quarter worth approximately $25,000. National Bank of Canada FI acquired a new position in FARO Technologies during the fourth quarter worth $55,000. Lazard Asset Management LLC purchased a new position in FARO Technologies in the fourth quarter worth $78,000. Covestor Ltd acquired a new stake in FARO Technologies in the fourth quarter valued at $111,000. Finally, Aquatic Capital Management LLC purchased a new stake in shares of FARO Technologies during the 4th quarter worth $155,000. Hedge funds and other institutional investors own 97.19% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. StockNews.com upgraded shares of FARO Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 8th. Craig Hallum upped their target price 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. Finally, Needham & Company LLC raised 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.

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.