Peter James Lau Sells 4,617 Shares of FARO Technologies, Inc. (NASDAQ:FARO) Stock

FARO Technologies, Inc. (NASDAQ:FARO) CEO Peter James Lau sold 4,617 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $29.30, for a total value of $135,278.10. Following the completion of the transaction, the chief executive officer now directly 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 the SEC website.

FARO Technologies Trading Down 2.2 %

FARO Technologies stock opened at $28.38 on Thursday. 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 $538.71 million, a price-to-earnings ratio of -81.08 and a beta of 1.55. The business has a 50 day moving average price of $29.40 and a two-hundred day moving average price of $24.29. The company has a quick ratio of 1.83, a current ratio of 2.17 and a debt-to-equity ratio of 0.27.

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 for the quarter, beating 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 company had revenue of $93.54 million for the quarter, compared to analyst estimates of $91.40 million. During the same period in the prior year, the company posted $0.36 EPS.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. StockNews.com raised FARO Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 8th. Needham & Company LLC upped their price target on FARO Technologies from $34.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Finally, Craig Hallum upped 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.

Institutional Investors Weigh In On FARO Technologies

Large investors have recently modified their holdings of the stock. Harvey Partners LLC grew its stake in shares of FARO Technologies by 17.8% in the 3rd quarter. Harvey Partners LLC now owns 1,006,000 shares of the scientific and technical instruments company’s stock valued at $19,255,000 after purchasing an additional 152,000 shares during the period. Quest Partners LLC grew its stake in shares of FARO Technologies by 196.7% in the 3rd quarter. Quest Partners LLC now owns 31,622 shares of the scientific and technical instruments company’s stock valued at $605,000 after purchasing an additional 20,963 shares during the period. Barclays PLC grew its stake in shares of FARO Technologies by 41.4% in the 3rd quarter. Barclays PLC now owns 61,125 shares of the scientific and technical instruments company’s stock valued at $1,171,000 after purchasing an additional 17,892 shares during the period. Geode Capital Management LLC grew its position in FARO Technologies by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 450,899 shares of the scientific and technical instruments company’s stock worth $8,633,000 after acquiring an additional 19,005 shares during the last quarter. Finally, Royce & Associates LP grew its position in FARO Technologies by 20.0% during the 3rd quarter. Royce & Associates LP now owns 1,409,031 shares of the scientific and technical instruments company’s stock worth $26,969,000 after acquiring an additional 234,650 shares during the last quarter. 97.19% of the stock is currently owned by institutional investors.

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.