Insider Selling: FARO Technologies, Inc. (NASDAQ:FARO) Director Sells 5,658 Shares of Stock

FARO Technologies, Inc. (NASDAQ:FARO) Director Yuval Wasserman sold 5,658 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $31.35, for a total transaction of $177,378.30. Following the completion of the transaction, the director now directly owns 153,512 shares of the company’s stock, valued at $4,812,601.20. This trade represents a 3.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

FARO Technologies Stock Performance

Shares of FARO stock traded down $0.83 during mid-day trading on Thursday, reaching $30.75. The stock had a trading volume of 189,358 shares, compared to its average volume of 237,821. The business’s fifty day moving average is $27.90 and its 200-day moving average is $21.96. The company has a current ratio of 2.17, a quick ratio of 1.83 and a debt-to-equity ratio of 0.27. The firm has a market cap of $581.70 million, a price-to-earnings ratio of -87.85 and a beta of 1.40. FARO Technologies, Inc. has a 1-year low of $13.52 and a 1-year high of $32.90.

Institutional Trading of FARO Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Inceptionr LLC acquired a new stake in FARO Technologies in the fourth quarter valued at approximately $306,000. Los Angeles Capital Management LLC acquired a new stake in FARO Technologies in the 4th quarter valued at $716,000. Bank of New York Mellon Corp grew its stake in FARO Technologies by 5.4% in the 4th quarter. Bank of New York Mellon Corp now owns 65,722 shares of the scientific and technical instruments company’s stock valued at $1,667,000 after acquiring an additional 3,373 shares during the period. Rhumbline Advisers grew its stake in FARO Technologies by 4.5% in 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 during the period. Finally, Tectonic Advisors LLC acquired a new stake in shares of FARO Technologies in the fourth quarter valued at about $536,000. Institutional investors and hedge funds own 97.19% of the company’s stock.

Analysts Set New Price Targets

FARO has been the subject of several recent analyst reports. StockNews.com upgraded shares of FARO Technologies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Needham & Company LLC upped their price target on FARO Technologies from $26.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, Craig Hallum upped their target price on 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.