Matthew Horwath Sells 1,480 Shares of FARO Technologies, Inc. (NASDAQ:FARO) Stock

FARO Technologies, Inc. (NASDAQ:FARO) CFO Matthew Horwath sold 1,480 shares of the firm’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 $43,364.00. Following the sale, the chief financial officer now owns 39,430 shares of the company’s stock, valued at approximately $1,155,299. The trade was a 3.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

FARO Technologies Trading Down 2.2 %

Shares of FARO stock opened at $28.38 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.17 and a quick ratio of 1.83. The firm has a market cap of $538.71 million, a PE ratio of -81.08 and a beta of 1.55. The company has a 50-day moving average of $29.40 and a two-hundred day moving average of $24.29. FARO Technologies, Inc. has a 1-year low of $13.52 and a 1-year high of $33.13.

FARO Technologies (NASDAQ:FARO) last posted its quarterly earnings data 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. FARO Technologies had a negative net margin of 1.87% and a negative return on equity of 2.49%. The business had revenue of $93.54 million during the quarter, compared to analyst estimates of $91.40 million. During the same quarter last year, the firm posted $0.36 earnings per share.

Analyst Ratings Changes

Several research firms recently issued reports on FARO. StockNews.com upgraded shares of FARO Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 8th. Needham & Company LLC increased 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. Finally, Craig Hallum increased 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.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP purchased a new position in shares of FARO Technologies in the fourth quarter valued at approximately $25,000. National Bank of Canada FI purchased a new position in shares of FARO Technologies in the fourth quarter valued at approximately $55,000. Lazard Asset Management LLC purchased a new position in shares of FARO Technologies in the fourth quarter valued at approximately $78,000. Covestor Ltd purchased a new position in shares of FARO Technologies in the fourth quarter valued at approximately $111,000. Finally, Aquatic Capital Management LLC purchased a new position in shares of FARO Technologies in the fourth quarter valued at approximately $155,000. Hedge funds and other institutional investors own 97.19% of the company’s stock.

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.