FARO Technologies, Inc. (NASDAQ:FARO) Director Alexander M. Davern Acquires 12,000 Shares

FARO Technologies, Inc. (NASDAQ:FARO – Get Rating) Director Alexander M. Davern purchased 12,000 shares of FARO Technologies stock in a transaction on Wednesday, May 24th. The stock was bought at an average cost of $13.91 per share, with a total value of $166,920.00. Following the transaction, the director now directly owns 65,412 shares of the company’s stock, valued at $909,880.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

FARO Technologies Trading Down 2.0 %

FARO Technologies stock opened at $13.82 on Friday. The business has a 50 day moving average price of $20.16 and a two-hundred day moving average price of $26.40. The company has a quick ratio of 2.14, a current ratio of 2.62 and a debt-to-equity ratio of 0.24. FARO Technologies, Inc. has a 12 month low of $10.30 and a 12 month high of $39.71.

Hedge Funds Weigh In On FARO Technologies

Several large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its stake in shares of FARO Technologies by 179.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,749 shares of the scientific and technical instruments company’s stock valued at $48,000 after purchasing an additional 1,123 shares during the period. Captrust Financial Advisors grew its stake in shares of FARO Technologies by 29.7% in the 1st quarter. Captrust Financial Advisors now owns 1,985 shares of the scientific and technical instruments company’s stock valued at $103,000 after purchasing an additional 455 shares during the period. Quadrant Capital Group LLC grew its stake in shares of FARO Technologies by 155.3% in the 3rd quarter. Quadrant Capital Group LLC now owns 2,129 shares of the scientific and technical instruments company’s stock valued at $58,000 after purchasing an additional 1,295 shares during the period. Mutual of America Capital Management LLC grew its stake in shares of FARO Technologies by 18.6% in the 3rd quarter. Mutual of America Capital Management LLC now owns 3,637 shares of the scientific and technical instruments company’s stock valued at $100,000 after purchasing an additional 570 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in shares of FARO Technologies by 15.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,021 shares of the scientific and technical instruments company’s stock valued at $208,000 after purchasing an additional 523 shares during the period. Institutional investors and hedge funds own 95.05% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on FARO shares. Needham & Company LLC cut their price objective on FARO Technologies from $39.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, February 16th. Craig Hallum cut their price objective on FARO Technologies from $30.00 to $22.00 in a research report on Thursday, May 4th. Robert W. Baird cut their price objective on FARO Technologies from $32.00 to $21.00 in a research report on Friday, May 5th. Finally, StockNews.com began coverage on FARO Technologies in a research report on Thursday, May 18th. They set a “hold” rating for the company.

About FARO Technologies

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FARO Technologies, Inc engages in the design, development, manufacture, marketing, and support of three-dimensional imaging and software solutions. It operates through the United States and Canada, Americas-Other, Germany, EMEA-Other, Japan, China, and Asia-Other segments. The company was founded by Gregory A.