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 sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

FARO Technologies Trading Up 4.8 %

Shares of NASDAQ FARO traded up $1.32 during trading hours on Tuesday, hitting $29.03. The company’s stock had a trading volume of 238,013 shares, compared to its average volume of 175,588. FARO Technologies, Inc. has a 12 month low of $13.52 and a 12 month high of $33.13. The stock has a market cap of $551.05 million, a price-to-earnings ratio of -82.94 and a beta of 1.55. 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 business has a 50-day simple moving average of $29.32 and a 200-day simple moving average of $24.21.

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

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC boosted its stake in shares of FARO Technologies by 0.8% during the 4th quarter. Millennium Management LLC now owns 54,069 shares of the scientific and technical instruments company’s stock valued at $1,371,000 after purchasing an additional 439 shares in the last quarter. SG Americas Securities LLC grew 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. Quarry LP bought a new position in shares of FARO Technologies during the fourth quarter valued at approximately $25,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of FARO Technologies by 3.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,129 shares of the scientific and technical instruments company’s stock valued at $942,000 after purchasing an additional 1,314 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in shares of FARO Technologies by 4.5% in the 4th quarter. Rhumbline Advisers now owns 31,279 shares of the scientific and technical instruments company’s stock worth $793,000 after purchasing an additional 1,333 shares in the last quarter. 97.19% of the stock is currently owned by 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.