FARO Technologies, Inc. (NASDAQ:FARO) CEO Peter James Lau Sells 4,617 Shares of Stock

FARO Technologies, Inc. (NASDAQ:FARO) CEO Peter James Lau sold 4,617 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $29.30, for a total transaction of $135,278.10. Following the transaction, the chief executive officer now owns 160,076 shares in the company, valued at approximately $4,690,226.80. The trade was a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

FARO Technologies Price Performance

Shares of FARO Technologies stock opened at $29.03 on Wednesday. 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, Inc. has a twelve month low of $13.52 and a twelve month high of $33.13. The business has a 50-day moving average price of $29.32 and a 200 day moving average price of $24.21. The firm has a market cap of $551.05 million, a PE ratio of -82.94 and a beta of 1.55.

FARO Technologies (NASDAQ:FARO) last issued its quarterly earnings results on Monday, February 24th. The scientific and technical instruments company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates 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 period last year, the company posted $0.36 EPS.

Institutional Trading of FARO Technologies

Several large investors have recently bought and sold shares of the business. Millennium Management LLC grew its stake in FARO Technologies by 0.8% during the 4th quarter. Millennium Management LLC now owns 54,069 shares of the scientific and technical instruments company’s stock valued at $1,371,000 after acquiring an additional 439 shares in the last quarter. SG Americas Securities LLC grew its stake in FARO Technologies by 13.1% during the 4th quarter. SG Americas Securities LLC now owns 8,345 shares of the scientific and technical instruments company’s stock valued at $212,000 after acquiring an additional 966 shares in the last quarter. Quarry LP purchased a new stake in FARO Technologies during the 4th quarter valued at about $25,000. Price T Rowe Associates Inc. MD grew its stake in FARO Technologies by 3.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,129 shares of the scientific and technical instruments company’s stock valued at $942,000 after acquiring an additional 1,314 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in FARO Technologies by 4.5% during the 4th quarter. Rhumbline Advisers now owns 31,279 shares of the scientific and technical instruments company’s stock valued at $793,000 after acquiring an additional 1,333 shares in the last quarter. Hedge funds and other institutional investors own 97.19% of the company’s stock.

Wall Street Analysts Forecast Growth

FARO has been the topic of several recent research reports. 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 report on Tuesday, February 25th. StockNews.com upgraded FARO Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Craig Hallum boosted their target price on shares of FARO Technologies from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, December 12th.

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.