FARO Technologies, Inc. (NASDAQ:FARO) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 7.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 78,101 shares of the scientific and technical instruments company’s stock after purchasing an additional 5,520 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in FARO Technologies were worth $1,981,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC boosted its holdings in shares of FARO Technologies by 13.1% during the fourth quarter. SG Americas Securities LLC now owns 8,345 shares of the scientific and technical instruments company’s stock valued at $212,000 after acquiring an additional 966 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in FARO Technologies in the third quarter worth about $213,000. Inceptionr LLC acquired a new stake in FARO Technologies in the fourth quarter worth about $306,000. Range Financial Group LLC acquired a new stake in FARO Technologies in the fourth quarter worth about $374,000. Finally, Tectonic Advisors LLC acquired a new stake in FARO Technologies in the fourth quarter worth about $536,000. Institutional investors and hedge funds own 97.19% of the company’s stock.

FARO Technologies Price Performance

Shares of FARO Technologies stock opened at $28.72 on Wednesday. The company has a current ratio of 2.17, a quick ratio of 1.83 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average price is $29.66 and its two-hundred day moving average price is $24.69. FARO Technologies, Inc. has a 52 week low of $13.52 and a 52 week high of $33.13. The stock has a market cap of $545.16 million, a PE ratio of -82.05 and a beta of 1.55.

FARO Technologies (NASDAQ:FARO) last issued its quarterly earnings results on Monday, February 24th. The scientific and technical instruments company reported $0.50 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 firm had revenue of $93.54 million for the quarter, compared to analysts’ expectations of $91.40 million. During the same period in the previous year, the business earned $0.36 earnings per share.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. StockNews.com downgraded shares of FARO Technologies from a “strong-buy” rating to a “buy” rating in a report on Sunday. Needham & Company LLC upped their price objective 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. Finally, Craig Hallum upped their price objective on shares of FARO Technologies from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, December 12th.

Insiders Place Their Bets

In other FARO Technologies news, CEO Peter James Lau sold 4,617 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $29.30, for a total transaction of $135,278.10. Following the sale, the chief executive officer now owns 160,076 shares in the company, valued at approximately $4,690,226.80. The trade was a 2.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Matthew Horwath sold 1,480 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $29.30, for a total value of $43,364.00. Following 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 11,755 shares of company stock worth $356,020. 2.10% of the stock is owned by corporate insiders.

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.