FARO Technologies (NASDAQ:FARO) Rating Reiterated by Needham & Company LLC

FARO Technologies (NASDAQ:FARO)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research report issued on Friday, Benzinga reports. They currently have a $27.00 target price on the scientific and technical instruments company’s stock. Needham & Company LLC’s price target indicates a potential upside of 48.68% from the company’s previous close.

FARO Technologies Stock Down 1.0 %

FARO opened at $18.16 on Friday. The company has a quick ratio of 2.00, a current ratio of 2.35 and a debt-to-equity ratio of 0.28. The stock has a market cap of $348.85 million, a price-to-earnings ratio of -8.07 and a beta of 1.38. FARO Technologies has a twelve month low of $10.30 and a twelve month high of $24.80. The company’s 50-day moving average price is $20.36 and its two-hundred day moving average price is $19.90.

FARO Technologies (NASDAQ:FARO) last released its earnings results on Wednesday, May 1st. The scientific and technical instruments company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.11). The company 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 last year, the firm posted ($1.12) EPS.

Insider Activity at FARO Technologies

In related news, VP Jeffrey D. Sexton sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $20.06, for a total transaction of $30,090.00. Following the sale, the vice president now directly owns 27,706 shares in the company, valued at approximately $555,782.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of FARO Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of FARO. Assenagon Asset Management S.A. increased its holdings in shares of FARO Technologies by 31.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 152,744 shares of the scientific and technical instruments company’s stock worth $2,326,000 after buying an additional 36,532 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of FARO Technologies by 20.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 453,340 shares of the scientific and technical instruments company’s stock valued at $6,904,000 after purchasing an additional 75,697 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of FARO Technologies by 1.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 257,109 shares of the scientific and technical instruments company’s stock valued at $5,793,000 after purchasing an additional 4,610 shares during the last quarter. Swiss National Bank grew its holdings in shares of FARO Technologies by 2.7% during the 3rd quarter. Swiss National Bank now owns 41,600 shares of the scientific and technical instruments company’s stock valued at $634,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Kent Lake Capital LLC grew its holdings in shares of FARO Technologies by 23.8% during the 3rd quarter. Kent Lake Capital LLC now owns 650,000 shares of the scientific and technical instruments company’s stock valued at $9,900,000 after purchasing an additional 125,000 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.