Insider Selling: FARO Technologies, Inc. (NASDAQ:FARO) Chairman Sells $167,588.90 in Stock

FARO Technologies, Inc. (NASDAQ:FARO) Chairman Yuval Wasserman sold 8,986 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $18.65, for a total value of $167,588.90. Following the transaction, the chairman now directly owns 202,835 shares of the company’s stock, valued at approximately $3,782,872.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

FARO Technologies Trading Down 2.7 %

NASDAQ:FARO opened at $16.82 on Friday. The stock has a fifty day simple moving average of $18.72 and a 200 day simple moving average of $20.43. The firm has a market capitalization of $323.04 million, a price-to-earnings ratio of -7.48 and a beta of 1.32. The company has a quick ratio of 2.03, a current ratio of 2.35 and a debt-to-equity ratio of 0.28. FARO Technologies, Inc. has a 1-year low of $12.34 and a 1-year high of $24.80.

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

Institutional Investors Weigh In On FARO Technologies

Several hedge funds have recently bought and sold shares of the business. Swedbank AB purchased a new stake in FARO Technologies in the 1st quarter worth about $3,226,000. Kennedy Capital Management LLC raised its stake in shares of FARO Technologies by 105.1% during the 1st quarter. Kennedy Capital Management LLC now owns 437,589 shares of the scientific and technical instruments company’s stock worth $9,413,000 after purchasing an additional 224,273 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of FARO Technologies by 3.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,806 shares of the scientific and technical instruments company’s stock worth $642,000 after purchasing an additional 897 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of FARO Technologies by 136.2% during the 1st quarter. Acadian Asset Management LLC now owns 169,882 shares of the scientific and technical instruments company’s stock worth $3,653,000 after purchasing an additional 97,969 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of FARO Technologies by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 1,589,519 shares of the scientific and technical instruments company’s stock worth $34,191,000 after purchasing an additional 64,095 shares in the last quarter. 97.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FARO has been the subject of a number of recent analyst reports. StockNews.com upgraded FARO Technologies from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $27.00 price target on shares of FARO Technologies in a research report on Friday, May 3rd.

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.