FARO Technologies (NASDAQ:FARO) Given "Buy" Rating at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of FARO Technologies (NASDAQ:FARO - Free Report) in a report published on Friday, Benzinga reports. They currently have a $27.00 target price on the scientific and technical instruments company's stock.

FARO Technologies Stock Down 1.0 %

NASDAQ:FARO traded down $0.19 on Friday, hitting $18.16. 164,266 shares of the company's stock traded hands, compared to its average volume of 209,343. The company has a market cap of $344.48 million, a PE ratio of -8.07 and a beta of 1.38. FARO Technologies has a 1 year low of $10.30 and a 1 year high of $24.80. The company has a current ratio of 2.31, a quick ratio of 2.00 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average price of $20.36 and a 200-day moving average price of $19.86.

FARO Technologies (NASDAQ:FARO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The scientific and technical instruments company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.11). FARO Technologies had a negative return on equity of 16.02% and a negative net margin of 11.92%. The company had revenue of $84.24 million for the quarter. During the same period in the prior year, the company posted ($1.12) EPS.

Insider Buying and Selling

In other FARO Technologies news, VP Jeffrey D. Sexton sold 1,500 shares of the business's stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $20.06, for a total value of $30,090.00. Following the transaction, the vice president now owns 27,706 shares in the company, valued at $555,782.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of FARO Technologies

Institutional investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC lifted its stake in shares of FARO Technologies by 16.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,420 shares of the scientific and technical instruments company's stock valued at $145,000 after purchasing an additional 900 shares during the last quarter. Barclays PLC lifted its position in shares of FARO Technologies by 25.8% in the third quarter. Barclays PLC now owns 9,554 shares of the scientific and technical instruments company's stock worth $146,000 after buying an additional 1,957 shares during the last quarter. Innovis Asset Management LLC bought a new stake in shares of FARO Technologies during the 3rd quarter worth about $171,000. Aigen Investment Management LP acquired a new position in shares of FARO Technologies during the 4th quarter valued at about $201,000. Finally, Bailard Inc. bought a new position in shares of FARO Technologies in the 4th quarter valued at approximately $256,000. 97.19% of the stock is currently owned by institutional investors and hedge funds.

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.