StockNews.com Initiates Coverage on FARO Technologies (NASDAQ:FARO)

StockNews.com started coverage on shares of FARO Technologies (NASDAQ:FARO) in a report issued on Friday. The brokerage issued a buy rating on the scientific and technical instruments company’s stock.

Several other research firms also recently issued reports on FARO. Craig Hallum downgraded shares of FARO Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, May 6th. Needham & Company LLC downgraded shares of FARO Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, May 7th.

FARO Technologies Stock Performance

Shares of FARO stock opened at $42.28 on Friday. FARO Technologies has a one year low of $13.52 and a one year high of $42.64. 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 company has a 50 day moving average price of $29.98 and a 200 day moving average price of $28.48. The firm has a market capitalization of $812.88 million, a price-to-earnings ratio of -120.80 and a beta of 1.49.

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, 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 the consensus estimate of $91.40 million. During the same period in the previous year, the firm earned $0.36 earnings per share.

Insider Transactions at FARO Technologies

In related news, CEO Peter James Lau sold 4,617 shares of FARO Technologies stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $29.30, for a total value of $135,278.10. Following the sale, the chief executive officer now directly owns 160,076 shares in the company, valued at $4,690,226.80. This trade represents a 2.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Matthew Horwath sold 1,480 shares of FARO Technologies stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $29.30, for a total transaction 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. This represents a 3.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

Institutional Trading of FARO Technologies

Several hedge funds have recently bought and sold shares of FARO. Quarry LP acquired a new position in FARO Technologies during the 4th quarter valued at about $25,000. National Bank of Canada FI acquired a new position in FARO Technologies during the 4th quarter valued at about $55,000. Lazard Asset Management LLC acquired a new position in FARO Technologies during the 4th quarter valued at about $78,000. Covestor Ltd acquired a new position in FARO Technologies during the 4th quarter valued at about $111,000. Finally, Aquatic Capital Management LLC acquired a new position in FARO Technologies during the 4th quarter valued at about $155,000. 97.19% of the stock is currently owned by institutional investors.

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.