FARO Technologies (NASDAQ:FARO) Price Target Raised to $26.00 at Needham & Company LLC

FARO Technologies (NASDAQ:FARO) had its target price upped by Needham & Company LLC from $24.00 to $26.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the scientific and technical instruments company’s stock.

Separately, Craig Hallum dropped their price objective on shares of FARO Technologies from $29.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, August 9th.

FARO Technologies Price Performance

Shares of NASDAQ FARO traded up $0.20 during trading on Thursday, hitting $25.90. The company had a trading volume of 136,507 shares, compared to its average volume of 171,044. The stock has a fifty day simple moving average of $18.09 and a two-hundred day simple moving average of $17.58. FARO Technologies has a fifty-two week low of $13.52 and a fifty-two week high of $26.32. The firm has a market capitalization of $505.05 million, a price-to-earnings ratio of -32.53 and a beta of 1.26. The company has a quick ratio of 2.01, a current ratio of 2.33 and a debt-to-equity ratio of 0.27.

FARO Technologies (NASDAQ:FARO) last issued its earnings results on Thursday, August 8th. The scientific and technical instruments company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.14. The company had revenue of $82.09 million for the quarter. FARO Technologies had a negative net margin of 4.25% and a negative return on equity of 5.72%.

Insider Transactions at FARO Technologies

In related news, CEO Peter James Lau sold 5,435 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $16.67, for a total value of $90,601.45. Following the completion of the sale, the chief executive officer now directly owns 133,975 shares in the company, valued at approximately $2,233,363.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.10% of the company’s stock.

Institutional Trading of FARO Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of FARO Technologies by 4.2% in the first quarter. Vanguard Group Inc. now owns 1,589,519 shares of the scientific and technical instruments company’s stock worth $34,191,000 after buying an additional 64,095 shares during the last quarter. Swedbank AB bought a new stake in FARO Technologies during the first quarter valued at $3,226,000. Acadian Asset Management LLC increased its stake in FARO Technologies by 136.2% during the first quarter. Acadian Asset Management LLC now owns 169,882 shares of the scientific and technical instruments company’s stock valued at $3,653,000 after purchasing an additional 97,969 shares during the last quarter. 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. Finally, Divisar Capital Management LLC grew its position in shares of FARO Technologies by 5.1% during the second quarter. Divisar Capital Management LLC now owns 1,838,777 shares of the scientific and technical instruments company’s stock worth $29,420,000 after acquiring an additional 90,000 shares during the last quarter. Institutional investors own 97.19% of the company’s stock.

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.