Keeley Teton Advisors LLC Has $503,000 Holdings in FARO Technologies, Inc. (NASDAQ:FARO)

Keeley Teton Advisors LLC lowered its stake in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 13.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 19,852 shares of the scientific and technical instruments company’s stock after selling 3,148 shares during the period. Keeley Teton Advisors LLC’s holdings in FARO Technologies were worth $503,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Covestor Ltd bought a new stake in FARO Technologies during the fourth quarter worth $111,000. Wells Fargo & Company MN boosted its holdings in FARO Technologies by 27.7% during the 4th quarter. Wells Fargo & Company MN now owns 12,307 shares of the scientific and technical instruments company’s stock worth $312,000 after acquiring an additional 2,672 shares during the last quarter. National Bank of Canada FI bought a new stake in shares of FARO Technologies in the 4th quarter worth $55,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of FARO Technologies by 244.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 213,423 shares of the scientific and technical instruments company’s stock valued at $5,412,000 after purchasing an additional 151,382 shares during the last quarter. Finally, Hillsdale Investment Management Inc. bought a new position in shares of FARO Technologies during the fourth quarter valued at about $3,562,000. 97.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on FARO. StockNews.com lowered shares of FARO Technologies from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 16th. Needham & Company LLC increased their price target on FARO Technologies from $34.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th.

FARO Technologies Stock Down 2.1 %

FARO opened at $24.76 on Thursday. FARO Technologies, Inc. has a twelve month low of $13.52 and a twelve month high of $33.13. The company’s 50-day moving average price is $28.03 and its two-hundred day moving average price is $25.93. The stock has a market cap of $469.99 million, a price-to-earnings ratio of -70.74 and a beta of 1.55. The company has a quick ratio of 1.83, a current ratio of 2.17 and a debt-to-equity ratio of 0.27.

FARO Technologies (NASDAQ:FARO) last announced its quarterly earnings data on Monday, February 24th. The scientific and technical instruments company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.10. FARO Technologies had a negative return on equity of 2.49% and a negative net margin of 1.87%. The business had revenue of $93.54 million during the quarter, compared to analyst estimates of $91.40 million. During the same period in the prior year, the company earned $0.36 earnings per share.

Insider Activity at FARO Technologies

In related news, CFO Matthew Horwath sold 1,480 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $29.30, for a total transaction of $43,364.00. Following the sale, the chief financial officer now directly owns 39,430 shares in the company, valued at approximately $1,155,299. This represents a 3.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Peter James Lau sold 4,617 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $29.30, for a total transaction of $135,278.10. Following the completion of the transaction, the chief executive officer now directly owns 160,076 shares of the company’s stock, valued at approximately $4,690,226.80. This trade represents a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,755 shares of company stock worth $356,020. Company insiders own 2.10% 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.