Needham & Company LLC reiterated their buy rating on shares of FARO Technologies (NASDAQ:FARO – Free Report) in a research report report published on Friday, Benzinga reports. The brokerage currently has a $27.00 price target on the scientific and technical instruments company’s stock.
FARO Technologies Trading Down 1.0 %
FARO Technologies stock opened at $18.16 on Friday. FARO Technologies has a 1 year low of $10.30 and a 1 year high of $24.80. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.35 and a quick ratio of 2.03. The company’s fifty day moving average price is $20.36 and its 200 day moving average price is $19.95.
FARO Technologies (NASDAQ:FARO – Get Free Report) last posted its earnings results on Wednesday, May 1st. The scientific and technical instruments company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.11). The business had revenue of $84.24 million during the quarter. FARO Technologies had a negative net margin of 11.92% and a negative return on equity of 16.09%. During the same quarter in the prior year, the company earned ($1.12) EPS.
Insider Activity
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its position in FARO Technologies by 16.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,420 shares of the scientific and technical instruments company’s stock valued at $145,000 after buying an additional 900 shares during the last quarter. Barclays PLC boosted its holdings in shares of FARO Technologies by 25.8% in the third quarter. Barclays PLC now owns 9,554 shares of the scientific and technical instruments company’s stock valued at $146,000 after acquiring an additional 1,957 shares in the last quarter. Innovis Asset Management LLC acquired a new stake in shares of FARO Technologies in the third quarter valued at $171,000. Aigen Investment Management LP bought a new stake in shares of FARO Technologies in the 4th quarter worth approximately $201,000. Finally, Bailard Inc. bought a new stake in shares of FARO Technologies during the 4th quarter worth $256,000. Institutional investors and hedge funds own 97.19% of the company’s stock.
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.
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