FARO Technologies, Inc. (NASDAQ:FARO) Shares Sold by Royce & Associates LP

Royce & Associates LP cut its holdings in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 4.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,341,239 shares of the scientific and technical instruments company’s stock after selling 67,792 shares during the period. Royce & Associates LP owned approximately 7.09% of FARO Technologies worth $34,014,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC boosted its holdings in FARO Technologies by 13.1% in the 4th quarter. SG Americas Securities LLC now owns 8,345 shares of the scientific and technical instruments company’s stock worth $212,000 after buying an additional 966 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in FARO Technologies in the 3rd quarter worth approximately $213,000. Inceptionr LLC purchased a new position in FARO Technologies in the 4th quarter worth approximately $306,000. Range Financial Group LLC purchased a new position in FARO Technologies in the 4th quarter worth approximately $374,000. Finally, Tectonic Advisors LLC purchased a new position in FARO Technologies in the 4th quarter worth approximately $536,000. 97.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Matthew Horwath sold 1,480 shares of FARO Technologies 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 $43,364.00. Following the completion of the sale, the chief financial officer now owns 39,430 shares in the company, valued at approximately $1,155,299. This trade represents a 3.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Yuval Wasserman sold 5,658 shares of FARO Technologies stock in a transaction that occurred on Wednesday, February 5th. The shares were 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 owns 153,512 shares of the company’s stock, valued at $4,812,601.20. This trade represents a 3.55 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,755 shares of company stock valued at $356,020. 2.10% of the stock is currently owned by company insiders.

FARO Technologies Stock Up 4.4 %

FARO stock opened at $29.43 on Friday. The firm has a market cap of $558.64 million, a PE ratio of -84.08 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 firm’s 50 day moving average price is $29.56 and its 200-day moving average price is $24.48. FARO Technologies, Inc. has a one year low of $13.52 and a one year high of $33.13.

FARO Technologies (NASDAQ:FARO) last released its quarterly earnings results on Monday, February 24th. The scientific and technical instruments company reported $0.50 EPS for the quarter, beating the consensus estimate 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 net margin of 1.87% and a negative return on equity of 2.49%. During the same quarter in the previous year, the company earned $0.36 EPS.

Wall Street Analysts Forecast Growth

FARO has been the topic of a number of research reports. Needham & Company LLC raised their target price on shares of FARO Technologies from $34.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Craig Hallum raised their target price on shares of FARO Technologies from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, StockNews.com lowered shares of FARO Technologies from a “strong-buy” rating to a “buy” rating in a research note on Sunday.

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.