Equities researchers at StockNews.com assumed coverage on shares of FARO Technologies (NASDAQ:FARO - Get Free Report) in a research report issued to clients and investors on Friday. The firm set a "buy" rating on the scientific and technical instruments company's stock.
Other equities analysts also recently issued reports about the company. Needham & Company LLC downgraded FARO Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Craig Hallum downgraded FARO Technologies from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th.
Check Out Our Latest Stock Analysis on FARO Technologies
FARO Technologies Stock Down 0.1%
Shares of FARO Technologies stock traded down $0.06 on Friday, hitting $42.05. 728,690 shares of the company's stock traded hands, compared to its average volume of 281,645. FARO Technologies has a 52-week low of $13.52 and a 52-week high of $42.64. 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 stock has a market cap of $808.45 million, a P/E ratio of -120.14 and a beta of 1.49. The firm's 50-day moving average is $30.78 and its 200 day moving average is $28.83.
FARO Technologies (NASDAQ:FARO - Get Free Report) last posted its quarterly earnings results on Monday, February 24th. The scientific and technical instruments company reported $0.50 earnings per share (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 analysts' expectations 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 period in the prior year, the company posted $0.36 earnings per share.
Insider Buying and Selling
In other FARO Technologies news, CEO Peter James Lau sold 4,617 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $29.30, for a total value of $135,278.10. Following the transaction, the chief executive officer now owns 160,076 shares of the company's stock, valued at $4,690,226.80. This trade represents a 2.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 completion of the transaction, the chief financial officer now directly owns 39,430 shares in the company, valued at $1,155,299. This represents a 3.62% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.40% of the company's stock.
Hedge Funds Weigh In On FARO Technologies
A number of large investors have recently bought and sold shares of the business. Acadian Asset Management LLC lifted its holdings in FARO Technologies by 14.2% in the first quarter. Acadian Asset Management LLC now owns 255,457 shares of the scientific and technical instruments company's stock worth $6,972,000 after acquiring an additional 31,791 shares during the last quarter. Jane Street Group LLC lifted its holdings in FARO Technologies by 118.8% in the first quarter. Jane Street Group LLC now owns 19,148 shares of the scientific and technical instruments company's stock worth $523,000 after acquiring an additional 10,395 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its holdings in FARO Technologies by 61.7% in the first quarter. Dynamic Technology Lab Private Ltd now owns 16,738 shares of the scientific and technical instruments company's stock worth $457,000 after acquiring an additional 6,386 shares during the last quarter. PharVision Advisers LLC bought a new position in FARO Technologies in the first quarter worth about $211,000. Finally, Graham Capital Management L.P. raised its holdings in shares of FARO Technologies by 52.7% during the first quarter. Graham Capital Management L.P. now owns 23,254 shares of the scientific and technical instruments company's stock valued at $635,000 after buying an additional 8,023 shares during the last quarter. Institutional investors own 97.19% of the company's stock.
About FARO Technologies
(
Get Free Report)
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.
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