FARO Technologies, Inc. (NASDAQ:FARO - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $43.41 and last traded at $42.52, with a volume of 5083 shares trading hands. The stock had previously closed at $42.31.
Analysts Set New Price Targets
FARO has been the topic of a number of recent research reports. Craig Hallum lowered FARO Technologies from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. StockNews.com initiated coverage on FARO Technologies in a report on Friday. They issued a "buy" rating on the stock. Finally, Needham & Company LLC lowered FARO Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th.
Get Our Latest Report on FARO Technologies
FARO Technologies Price Performance
The stock has a fifty day moving average of $29.98 and a two-hundred day moving average of $28.40. The stock has a market cap of $812.88 million, a price-to-earnings ratio of -120.80 and a beta of 1.49. 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 - Get Free Report) last announced its quarterly earnings data on Monday, February 24th. The scientific and technical instruments company reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $93.54 million for the quarter, compared to analyst estimates of $91.40 million. During the same quarter 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 company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $29.30, for a total value of $135,278.10. Following the sale, the chief executive officer now owns 160,076 shares of the company's stock, valued at approximately $4,690,226.80. This represents a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Matthew Horwath sold 1,480 shares of the company's stock in a transaction 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 directly owns 39,430 shares in the company, valued at $1,155,299. This trade represents a 3.62% decrease in their position. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by corporate insiders.
Institutional Trading of FARO Technologies
Several large investors have recently bought and sold shares of FARO. Quarry LP acquired a new stake in FARO Technologies in the fourth quarter valued at $25,000. National Bank of Canada FI purchased a new stake in shares of FARO Technologies in the fourth quarter valued at $55,000. Lazard Asset Management LLC purchased a new stake in shares of FARO Technologies in the fourth quarter valued at $78,000. Covestor Ltd purchased a new stake in shares of FARO Technologies in the fourth quarter valued at $111,000. Finally, Aquatic Capital Management LLC purchased a new stake in shares of FARO Technologies in the fourth quarter valued at $155,000. Institutional investors and hedge funds 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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