Hillsdale Investment Management Inc. Acquires Shares of 140,452 FARO Technologies, Inc. (NASDAQ:FARO)

Hillsdale Investment Management Inc. bought a new position in shares of FARO Technologies, Inc. (NASDAQ:FARO) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 140,452 shares of the scientific and technical instruments company’s stock, valued at approximately $3,562,000.

Several other institutional investors have also modified their holdings of the business. Needham Investment Management LLC grew its stake in FARO Technologies by 20.0% during the 3rd quarter. Needham Investment Management LLC now owns 1,029,250 shares of the scientific and technical instruments company’s stock valued at $19,700,000 after purchasing an additional 171,300 shares in the last quarter. Harvey Partners LLC increased its stake in shares of FARO Technologies by 17.8% in the third quarter. Harvey Partners LLC now owns 1,006,000 shares of the scientific and technical instruments company’s stock worth $19,255,000 after buying an additional 152,000 shares during the last quarter. Hodges Capital Management Inc. acquired a new stake in FARO Technologies in the fourth quarter valued at $3,144,000. Invenomic Capital Management LP boosted its stake in FARO Technologies by 23.2% during the 3rd quarter. Invenomic Capital Management LP now owns 396,830 shares of the scientific and technical instruments company’s stock valued at $7,595,000 after acquiring an additional 74,631 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in FARO Technologies during the 4th quarter worth $716,000. Institutional investors and hedge funds own 97.19% of the company’s stock.

Insider Buying and Selling

In other news, CEO Peter James Lau sold 4,617 shares of the business’s stock in a transaction on Friday, March 7th. The shares were 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. The trade was a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Yuval Wasserman sold 5,658 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $31.35, for a total transaction of $177,378.30. Following the completion of the sale, the director now directly owns 153,512 shares in the company, valued at approximately $4,812,601.20. This trade represents a 3.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,755 shares of company stock worth $356,020 in the last three months. 2.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on FARO shares. StockNews.com cut shares of FARO Technologies from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 16th. Needham & Company LLC increased their target price on FARO Technologies from $34.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Finally, Craig Hallum boosted their price target on FARO Technologies from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, December 12th.

FARO Technologies Trading Down 4.2 %

NASDAQ FARO opened at $28.21 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.83 and a current ratio of 2.17. FARO Technologies, Inc. has a one year low of $13.52 and a one year high of $33.13. The company has a 50-day simple moving average of $29.86 and a 200-day simple moving average of $24.87. The firm has a market capitalization of $535.48 million, a PE ratio of -80.60 and a beta of 1.55.

FARO Technologies (NASDAQ:FARO) last issued its earnings results on Monday, February 24th. The scientific and technical instruments company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.10. The company had revenue of $93.54 million during the quarter, compared to the consensus estimate 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 in the previous year, the firm posted $0.36 earnings per share.

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.