FARO Technologies, Inc. (NASDAQ:FARO) Director Yuval Wasserman Sells 10,075 Shares

FARO Technologies, Inc. (NASDAQ:FARO) Director Yuval Wasserman sold 10,075 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $16.64, for a total transaction of $167,648.00. Following the completion of the sale, the director now directly owns 183,221 shares in the company, valued at approximately $3,048,797.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Yuval Wasserman also recently made the following trade(s):

• On Monday, June 17th, Yuval Wasserman sold 10,149 shares of FARO Technologies stock. The shares were sold at an average price of $16.52, for a total transaction of $167,661.48.
• On Wednesday, June 12th, Yuval Wasserman sold 8,986 shares of FARO Technologies stock. The shares were sold at an average price of $18.65, for a total transaction of $167,588.90.

FARO Technologies Stock Performance

Shares of FARO Technologies stock opened at $16.86 on Tuesday. The firm has a market capitalization of $323.88 million, a P/E ratio of -7.49 and a beta of 1.32. FARO Technologies, Inc. has a 52 week low of $12.34 and a 52 week high of $24.80. The company has a quick ratio of 2.03, a current ratio of 2.35 and a debt-to-equity ratio of 0.28. The firm’s 50 day moving average is $18.65 and its two-hundred day moving average is $20.43.

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FARO. StockNews.com raised shares of FARO Technologies from a “hold” rating to a “buy” rating in a 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 note on Friday, May 3rd.

Hedge Funds Weigh In On FARO Technologies

A number of hedge funds have recently modified their holdings of FARO. Kennedy Capital Management LLC grew its position in shares of FARO Technologies by 105.1% during the first quarter. Kennedy Capital Management LLC now owns 437,589 shares of the scientific and technical instruments company’s stock worth $9,413,000 after acquiring an additional 224,273 shares during the last quarter. Pinnacle Associates Ltd. grew its position in shares of FARO Technologies by 64.6% during the fourth quarter. Pinnacle Associates Ltd. now owns 493,724 shares of the scientific and technical instruments company’s stock worth $11,124,000 after acquiring an additional 193,757 shares during the last quarter. G2 Investment Partners Management LLC purchased a new position in shares of FARO Technologies during the fourth quarter worth approximately $3,423,000. Swedbank AB purchased a new position in shares of FARO Technologies during the first quarter worth approximately $3,226,000. Finally, Kent Lake Capital LLC grew its position in shares of FARO Technologies by 23.8% during the third quarter. Kent Lake Capital LLC now owns 650,000 shares of the scientific and technical instruments company’s stock worth $9,900,000 after acquiring an additional 125,000 shares during the last quarter. 97.19% of the stock is currently owned by hedge funds and other institutional investors.

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.