Hillsdale Investment Management Inc. Buys Shares of 140,452 FARO Technologies, Inc. (NASDAQ:FARO)

Hillsdale Investment Management Inc. acquired a new position in shares of FARO Technologies, Inc. (NASDAQ:FARO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 140,452 shares of the scientific and technical instruments company's stock, valued at approximately $3,562,000. Hillsdale Investment Management Inc. owned about 0.74% of FARO Technologies at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. increased its position in shares of FARO Technologies by 21.8% during the 4th quarter. American Century Companies Inc. now owns 31,048 shares of the scientific and technical instruments company's stock valued at $787,000 after purchasing an additional 5,567 shares during the last quarter. Intech Investment Management LLC purchased a new position in FARO Technologies during the fourth quarter worth $278,000. Globeflex Capital L P boosted its stake in FARO Technologies by 8.4% during the fourth quarter. Globeflex Capital L P now owns 55,591 shares of the scientific and technical instruments company's stock worth $1,410,000 after buying an additional 4,300 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of FARO Technologies by 7.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 78,101 shares of the scientific and technical instruments company's stock valued at $1,981,000 after acquiring an additional 5,520 shares during the period. Finally, Inceptionr LLC bought a new stake in shares of FARO Technologies in the 4th quarter worth about $306,000. 97.19% of the stock is currently owned by hedge funds and other institutional investors.

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FARO Technologies Trading Down 0.3 %

Shares of FARO traded down $0.08 during trading hours on Thursday, reaching $28.42. 180,632 shares of the company traded hands, compared to its average volume of 170,082. The stock's fifty day moving average price is $29.86 and its 200 day moving average price is $25.14. The company has a current ratio of 2.17, a quick ratio of 1.83 and a debt-to-equity ratio of 0.27. The firm has a market cap of $539.47 million, a price-to-earnings ratio of -81.20 and a beta of 1.55. FARO Technologies, Inc. has a 12-month low of $13.52 and a 12-month high of $33.13.

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

Analyst Ratings Changes

Several brokerages recently commented on FARO. Craig Hallum upped their price target on shares of FARO Technologies from $30.00 to $33.00 and gave the company a "buy" rating in a report on Thursday, December 12th. StockNews.com cut FARO Technologies from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 16th. Finally, Needham & Company LLC increased their price target on FARO Technologies from $34.00 to $37.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th.

Insiders Place Their Bets

In other news, CEO Peter James Lau sold 4,617 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 value of $135,278.10. Following the completion of the sale, the chief executive officer now owns 160,076 shares of the company's stock, valued at approximately $4,690,226.80. This represents a 2.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Yuval Wasserman sold 5,658 shares of FARO Technologies stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $31.35, for a total transaction of $177,378.30. Following the transaction, the director now directly owns 153,512 shares in the company, valued at approximately $4,812,601.20. The trade was a 3.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,755 shares of company stock worth $356,020 in the last ninety days. 2.10% of the stock is owned by company insiders.

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.