FARO Technologies (NASDAQ:FARO) Reaches New 12-Month High – What’s Next?

FARO Technologies, Inc. (NASDAQ:FARO) shares reached a new 52-week high on Monday . The company 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.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on FARO shares. Craig Hallum lowered shares of FARO Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, May 6th. StockNews.com cut shares of FARO Technologies from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 16th. Finally, Needham & Company LLC lowered shares of FARO Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, May 7th.

FARO Technologies Price Performance

The stock has a market capitalization of $810.18 million, a price-to-earnings ratio of -120.40 and a beta of 1.49. The business has a 50-day simple moving average of $29.16 and a two-hundred day simple moving average of $27.90. 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 (NASDAQ:FARO) last released its quarterly earnings results on Monday, February 24th. The scientific and technical instruments company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.10. FARO Technologies had a negative net margin of 1.87% and a negative return on equity of 2.49%. The company had revenue of $93.54 million during the quarter, compared to analysts’ expectations of $91.40 million. During the same period in the prior year, the company earned $0.36 earnings per share.

Insider Buying and Selling at FARO Technologies

In other FARO Technologies news, CFO Matthew Horwath sold 1,480 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $29.30, for a total value 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. The trade was a 3.62% decrease in their position. 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 business’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 transaction of $135,278.10. Following the completion of the transaction, the chief executive officer now owns 160,076 shares of the company’s stock, valued at $4,690,226.80. The trade was a 2.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Quarry LP bought a new stake in shares of FARO Technologies in the fourth quarter valued at approximately $25,000. National Bank of Canada FI bought a new stake in FARO Technologies during the 4th quarter valued at $55,000. Lazard Asset Management LLC bought a new position in FARO Technologies in the 4th quarter worth $78,000. Covestor Ltd bought a new stake in FARO Technologies during the 4th quarter valued at about $111,000. Finally, Aquatic Capital Management LLC purchased a new stake in shares of FARO Technologies during the 4th quarter valued at about $155,000. 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.