Insider Selling: FARO Technologies, Inc. (NASDAQ:FARO) CEO Sells $135,278.10 in Stock

FARO Technologies, Inc. (NASDAQ:FARO) CEO Peter James Lau sold 4,617 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 160,076 shares of the company’s stock, valued at approximately $4,690,226.80. This trade represents a 2.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

FARO Technologies Price Performance

FARO Technologies stock opened at $28.18 on Friday. The stock has a market cap of $534.91 million, a P/E ratio of -80.51 and a beta of 1.55. The company has a fifty day simple moving average of $29.46 and a 200-day simple moving average of $24.32. 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.

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 return on equity of 2.49% and a negative net margin of 1.87%. The business had revenue of $93.54 million during the quarter, compared to analysts’ expectations of $91.40 million. During the same period in the prior year, the firm posted $0.36 EPS.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on FARO shares. Needham & Company LLC lifted their target price on FARO Technologies from $34.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. StockNews.com raised FARO Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 8th. Finally, Craig Hallum upped their target price on shares of FARO Technologies from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th.

Hedge Funds Weigh In On FARO Technologies

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