Needham & Company LLC Reiterates Buy Rating for FARO Technologies (NASDAQ:FARO)

Needham & Company LLC restated their buy rating on shares of FARO Technologies (NASDAQ:FARO) in a research report sent to investors on Friday morning, Benzinga reports. They currently have a $27.00 target price on the scientific and technical instruments company’s stock.

FARO Technologies Trading Down 1.0 %

Shares of FARO Technologies stock traded down $0.19 on Friday, reaching $18.16. The company had a trading volume of 164,266 shares, compared to its average volume of 131,471. The firm has a market cap of $348.85 million, a price-to-earnings ratio of -8.07 and a beta of 1.38. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.35 and a quick ratio of 2.00. The firm’s 50-day moving average price is $20.36 and its two-hundred day moving average price is $19.86. FARO Technologies has a 1 year low of $10.30 and a 1 year high of $24.80.

FARO Technologies (NASDAQ:FARO) last announced its earnings results on Wednesday, May 1st. The scientific and technical instruments company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.11). FARO Technologies had a negative return on equity of 16.09% and a negative net margin of 11.92%. The company had revenue of $84.24 million during the quarter. During the same period last year, the business posted ($1.12) EPS.

Insider Activity at FARO Technologies

In other FARO Technologies news, VP Jeffrey D. Sexton sold 1,500 shares of FARO Technologies stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $20.06, for a total transaction of $30,090.00. Following the completion of the sale, the vice president now directly owns 27,706 shares of the company’s stock, valued at approximately $555,782.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On FARO Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its position in FARO Technologies by 16.3% during 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 in the last quarter. Barclays PLC raised its position in shares of FARO Technologies by 25.8% in the 3rd quarter. Barclays PLC now owns 9,554 shares of the scientific and technical instruments company’s stock worth $146,000 after acquiring an additional 1,957 shares in the last quarter. Innovis Asset Management LLC bought a new position in shares of FARO Technologies in the 3rd quarter worth $171,000. Aigen Investment Management LP bought a new position in shares of FARO Technologies in the 4th quarter worth $201,000. Finally, Bailard Inc. bought a new position in shares of FARO Technologies in the 4th quarter worth $256,000. 97.19% of the stock is owned by institutional investors.

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.