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

FARO Technologies, Inc. (NASDAQ:FARO) CFO Matthew Horwath sold 1,480 shares of the stock in a transaction on Friday, March 7th. The stock was 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 in the company, valued at approximately $1,155,299. The trade was a 3.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

FARO Technologies Price Performance

FARO opened at $29.03 on Wednesday. The company has a market capitalization of $551.05 million, a price-to-earnings ratio of -82.94 and a beta of 1.55. The company has a current ratio of 2.17, a quick ratio of 1.83 and a debt-to-equity ratio of 0.27. FARO Technologies, Inc. has a 12-month low of $13.52 and a 12-month high of $33.13. The business’s fifty day simple moving average is $29.32 and its 200-day simple moving average is $24.21.

FARO Technologies (NASDAQ:FARO) last released its quarterly earnings data 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. The firm had revenue of $93.54 million for the quarter, compared to the consensus estimate of $91.40 million. FARO Technologies had a negative net margin of 1.87% and a negative return on equity of 2.49%. During the same period last year, the firm earned $0.36 earnings per share.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On FARO Technologies

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

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.