272 Capital LP Sells 55,229 Shares of FARO Technologies, Inc. (NASDAQ:FARO)

272 Capital LP trimmed its stake in shares of FARO Technologies, Inc. (NASDAQ:FARO - Free Report) by 97.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,500 shares of the scientific and technical instruments company's stock after selling 55,229 shares during the quarter. 272 Capital LP's holdings in FARO Technologies were worth $29,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in FARO. Vanguard Group Inc. raised its holdings in FARO Technologies by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 1,589,519 shares of the scientific and technical instruments company's stock worth $34,191,000 after purchasing an additional 64,095 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in FARO Technologies by 3.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 29,806 shares of the scientific and technical instruments company's stock worth $642,000 after buying an additional 897 shares during the last quarter. Swedbank AB bought a new position in FARO Technologies during the first quarter worth $3,226,000. CWM LLC lifted its holdings in FARO Technologies by 343.6% in the second quarter. CWM LLC now owns 2,360 shares of the scientific and technical instruments company's stock valued at $38,000 after buying an additional 1,828 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in FARO Technologies by 20.4% during the second quarter. Assenagon Asset Management S.A. now owns 339,506 shares of the scientific and technical instruments company's stock valued at $5,432,000 after acquiring an additional 57,493 shares during the last quarter. 97.19% of the stock is owned by institutional investors and hedge funds.

FARO Technologies Stock Down 0.1 %

Shares of NASDAQ FARO traded down $0.02 during trading on Friday, hitting $26.25. 152,893 shares of the company traded hands, compared to its average volume of 194,764. The firm has a market capitalization of $496.65 million, a price-to-earnings ratio of -75.00 and a beta of 1.26. The business's fifty day moving average is $20.95 and its 200 day moving average is $18.43. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.83 and a current ratio of 2.17. FARO Technologies, Inc. has a fifty-two week low of $13.52 and a fifty-two week high of $28.04.

Insider Activity at FARO Technologies

In related news, CEO Peter James Lau sold 5,435 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $16.67, for a total value of $90,601.45. Following the transaction, the chief executive officer now directly owns 133,975 shares in the company, valued at $2,233,363.25. This trade represents a 3.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FARO. Needham & Company LLC boosted their price objective on FARO Technologies from $24.00 to $26.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Craig Hallum boosted their price target on FARO Technologies from $25.00 to $30.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Finally, StockNews.com upgraded FARO Technologies from a "buy" rating to a "strong-buy" rating in a report on Tuesday, November 12th.

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.