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In a recent transaction, Matthew Horwath, Senior Vice President and Chief Financial Officer of FARO Technologies Inc. (NASDAQ:FARO), sold 166 shares of the company’s common stock. The shares were sold at a price of $28.40 each, totaling $4,714. This transaction took place on March 18, 2025, and was executed as part of a "sell-to-cover" arrangement to meet tax obligations related to the vesting of restricted stock units (RSUs). The stock, currently trading at $29.24, has shown strong momentum with a 58% gain over the past six months. According to InvestingPro analysis, the company is trading near its Fair Value, with analysts setting price targets between $37 and $40.
Following this transaction, Horwath holds 39,264 shares of FARO Technologies. Notably, this sale was conducted under the company’s "sell to cover" policy, indicating it was not a discretionary sale by Horwath. FARO Technologies, based in Lake Mary, Florida, specializes in measuring and controlling devices. With a market capitalization of $555 million, the company maintains strong liquidity with a current ratio of 2.2 and operates with moderate debt levels. While currently unprofitable, analysts expect positive earnings this year.
In other recent news, Faro Technologies reported fourth-quarter earnings that exceeded analyst expectations. The company achieved adjusted earnings per share of $0.50, surpassing the predicted $0.31, and generated revenue of $93.54 million, which was higher than the anticipated $91.55 million. Despite a 5% year-over-year decline in revenue, Faro’s non-GAAP gross margin improved to 57.4%, and the company reached a decade-high adjusted EBITDA margin of 18%. Additionally, Faro reported its fifth consecutive quarter of positive operating cash flow. Looking ahead, Faro projects first-quarter 2025 revenue between $77 million and $85 million, with non-GAAP EPS expected to range from $0.10 to $0.30, both figures exceeding analyst expectations. Craig-Hallum analyst Greg Palm raised Faro’s price target from $33.00 to $40.00 and maintained a Buy rating, citing confidence in the company’s market growth potential. These developments highlight Faro’s strategic focus on operational excellence and growth.
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