Driehaus Capital Management LLC Takes Position in FARO Technologies, Inc. (NASDAQ:FARO)

Driehaus Capital Management LLC acquired a new position in shares of FARO Technologies, Inc. (NASDAQ:FARO) in the fourth quarter, HoldingsChannel reports. The fund acquired 354,490 shares of the scientific and technical instruments company’s stock, valued at approximately $8,990,000.

A number of other institutional investors have also made changes to their positions in the stock. Quarry LP acquired a new position in shares of FARO Technologies during the 4th quarter worth about $25,000. National Bank of Canada FI bought a new position in FARO Technologies during the 4th quarter worth approximately $55,000. Covestor Ltd acquired a new position in FARO Technologies during the fourth quarter valued at approximately $111,000. Aquatic Capital Management LLC bought a new stake in FARO Technologies in the fourth quarter valued at approximately $155,000. Finally, SG Americas Securities LLC raised its holdings in FARO Technologies by 13.1% in 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 purchasing an additional 966 shares during the period. 97.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other FARO Technologies news, CFO Matthew Horwath sold 1,480 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $29.30, for a total transaction 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. This represents a 3.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Peter James Lau sold 4,617 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $29.30, for a total transaction of $135,278.10. Following the transaction, the chief executive officer now directly owns 160,076 shares of the company’s stock, valued at $4,690,226.80. This represents a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is owned by corporate insiders.

FARO Technologies Stock Up 0.3 %

FARO Technologies stock opened at $42.31 on Friday. The company has a 50 day moving average of $28.69 and a 200-day moving average of $27.50. The company has a quick ratio of 1.83, a current ratio of 2.17 and a debt-to-equity ratio of 0.27. FARO Technologies, Inc. has a twelve month low of $13.52 and a twelve month high of $42.50. The stock has a market capitalization of $813.45 million, a PE ratio of -120.88 and a beta of 1.49.

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 for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $93.54 million during the quarter, compared to analyst estimates of $91.40 million. During the same period in the prior year, the business earned $0.36 EPS.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on FARO shares. StockNews.com lowered shares of FARO Technologies from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 16th. Craig Hallum cut FARO Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Needham & Company LLC lowered FARO Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday.

FARO Technologies 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.