FARO Technologies, Inc. (NASDAQ:FARO) Director Sells 5,658 Shares

FARO Technologies, Inc. (NASDAQ:FARO) Director Yuval Wasserman sold 5,658 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $31.35, for a total value of $177,378.30. Following the sale, the director now owns 153,512 shares of the company’s stock, valued at approximately $4,812,601.20. This trade represents a 3.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

FARO Technologies Stock Down 4.1 %

NASDAQ FARO opened at $29.49 on Friday. FARO Technologies, Inc. has a 52 week low of $13.52 and a 52 week high of $32.90. The company has a quick ratio of 1.83, a current ratio of 2.17 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $557.95 million, a P/E ratio of -84.25 and a beta of 1.40. The stock’s 50-day moving average price is $27.99 and its 200-day moving average price is $22.02.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FARO. Craig Hallum boosted their price target 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 upped their target price on shares of FARO Technologies from $26.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, StockNews.com upgraded shares of FARO Technologies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 12th.

Hedge Funds Weigh In On FARO Technologies

Several large investors have recently added to or reduced their stakes in FARO. Inceptionr LLC purchased a new stake in shares of FARO Technologies in the fourth quarter worth $306,000. Los Angeles Capital Management LLC bought a new position in FARO Technologies in the 4th quarter worth $716,000. Bank of New York Mellon Corp increased its stake in FARO Technologies by 5.4% in the 4th quarter. Bank of New York Mellon Corp now owns 65,722 shares of the scientific and technical instruments company’s stock worth $1,667,000 after buying an additional 3,373 shares in the last quarter. Rhumbline Advisers raised its holdings in FARO Technologies by 4.5% during the fourth quarter. Rhumbline Advisers now owns 31,279 shares of the scientific and technical instruments company’s stock valued at $793,000 after acquiring an additional 1,333 shares during the period. Finally, Tectonic Advisors LLC purchased a new position in shares of FARO Technologies in the fourth quarter valued at about $536,000. Hedge funds and other institutional investors own 97.19% of the company’s stock.

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.