FARO Technologies (NASDAQ:FARO) Hits New 12-Month High – Here’s What Happened

FARO Technologies, Inc. (NASDAQ:FARO)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $43.41 and last traded at $42.52, with a volume of 5083 shares. The stock had previously closed at $42.31.

Analyst Ratings Changes

FARO has been the topic of a number of recent research reports. Craig Hallum lowered shares of FARO Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, May 6th. Needham & Company LLC downgraded shares of FARO Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th. Finally, StockNews.com downgraded shares of FARO Technologies from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 16th.

FARO Technologies Stock Down 0.0%

The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.83 and a current ratio of 2.17. The company has a market capitalization of $810.18 million, a price-to-earnings ratio of -120.40 and a beta of 1.49. The stock’s fifty day simple moving average is $29.16 and its two-hundred day simple moving average is $27.90.

FARO Technologies (NASDAQ:FARO) last issued its earnings results on Monday, February 24th. The scientific and technical instruments company reported $0.50 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $91.40 million. During the same period last year, the business earned $0.36 earnings per share.

Insider Buying and Selling at FARO Technologies

In related news, CFO Matthew Horwath sold 1,480 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $29.30, for a total transaction of $43,364.00. Following the completion of the sale, the chief financial officer now owns 39,430 shares of the company’s stock, valued at $1,155,299. This trade represents a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Peter James Lau sold 4,617 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $29.30, for a total value of $135,278.10. Following the completion of the transaction, the chief executive officer now owns 160,076 shares in the company, valued at $4,690,226.80. This represents a 2.80% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On FARO Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FARO. Quarry LP purchased a new stake in FARO Technologies in the 4th quarter worth approximately $25,000. National Bank of Canada FI bought a new stake in shares of FARO Technologies in the 4th quarter valued at approximately $55,000. Lazard Asset Management LLC purchased a new stake in shares of FARO Technologies in the fourth quarter worth approximately $78,000. Covestor Ltd bought a new stake in FARO Technologies during the 4th quarter valued at $111,000. Finally, Aquatic Capital Management LLC acquired a new stake in shares of FARO Technologies in the 4th quarter worth $155,000. 97.19% of the stock is currently owned by hedge funds and other 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.