King Luther Capital Management Corp Buys 3,000 Shares of FARO Technologies, Inc. (NASDAQ:FARO)

King Luther Capital Management Corp increased its holdings in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 3.9% during the fourth quarter, HoldingsChannel reports. The firm owned 80,000 shares of the scientific and technical instruments company’s stock after buying an additional 3,000 shares during the period. King Luther Capital Management Corp’s holdings in FARO Technologies were worth $1,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its stake in FARO Technologies by 16.3% during the fourth 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. Aigen Investment Management LP purchased a new position in FARO Technologies during the 4th quarter worth $201,000. Barclays PLC increased its holdings in FARO Technologies by 25.8% during the 3rd quarter. Barclays PLC now owns 9,554 shares of the scientific and technical instruments company’s stock worth $146,000 after purchasing an additional 1,957 shares during the period. Innovis Asset Management LLC purchased a new position in shares of FARO Technologies in the 3rd quarter valued at $171,000. Finally, Bailard Inc. purchased a new position in shares of FARO Technologies in the 4th quarter valued at $256,000. 97.19% of the stock is owned by institutional investors.

FARO Technologies Stock Down 1.4 %

FARO Technologies stock traded down $0.27 during midday trading on Friday, reaching $18.68. The company’s stock had a trading volume of 3,763 shares, compared to its average volume of 193,954. FARO Technologies, Inc. has a fifty-two week low of $12.34 and a fifty-two 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 company has a market cap of $358.84 million, a P/E ratio of -8.42 and a beta of 1.38. The business has a 50-day simple moving average of $19.66 and a 200-day simple moving average of $20.40.

FARO Technologies (NASDAQ:FARO) last released its quarterly 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). FARO Technologies had a negative return on equity of 16.09% and a negative net margin of 11.92%. The company had revenue of $84.24 million for the quarter. During the same quarter in the prior year, the company posted ($1.12) earnings per share.

Insider Transactions at FARO Technologies

In related news, VP Jeffrey D. Sexton sold 1,500 shares of FARO Technologies stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $20.06, for a total transaction of $30,090.00. Following the completion of the transaction, the vice president now directly owns 27,706 shares in the company, valued at approximately $555,782.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

FARO has been the subject of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $27.00 price objective on shares of FARO Technologies in a research report on Friday, May 3rd. StockNews.com raised FARO Technologies from a “hold” rating to a “buy” rating in a report on Friday, May 3rd.

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.