272 Capital LP lessened its stake in FARO Technologies, Inc. (NASDAQ:FARO - Free Report) by 97.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,500 shares of the scientific and technical instruments company's stock after selling 55,229 shares during the period. 272 Capital LP's holdings in FARO Technologies were worth $29,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the stock. Divisar Capital Management LLC increased its holdings in FARO Technologies by 5.1% during the 2nd quarter. Divisar Capital Management LLC now owns 1,838,777 shares of the scientific and technical instruments company's stock valued at $29,420,000 after purchasing an additional 90,000 shares during the period. Royce & Associates LP raised its holdings in shares of FARO Technologies by 20.0% during the third quarter. Royce & Associates LP now owns 1,409,031 shares of the scientific and technical instruments company's stock valued at $26,969,000 after acquiring an additional 234,650 shares in the last quarter. Needham Investment Management LLC raised its holdings in shares of FARO Technologies by 20.0% during the third quarter. Needham Investment Management LLC now owns 1,029,250 shares of the scientific and technical instruments company's stock valued at $19,700,000 after acquiring an additional 171,300 shares in the last quarter. Harvey Partners LLC lifted its stake in FARO Technologies by 17.8% in the third quarter. Harvey Partners LLC now owns 1,006,000 shares of the scientific and technical instruments company's stock worth $19,255,000 after acquiring an additional 152,000 shares during the period. Finally, Polar Asset Management Partners Inc. increased its position in FARO Technologies by 0.4% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 676,796 shares of the scientific and technical instruments company's stock valued at $12,954,000 after purchasing an additional 2,700 shares during the period. 97.19% of the stock is currently owned by hedge funds and other institutional investors.
FARO Technologies Stock Down 3.0 %
Shares of FARO traded down $0.85 during trading hours on Friday, hitting $27.35. The company had a trading volume of 148,187 shares, compared to its average volume of 171,829. FARO Technologies, Inc. has a 52-week low of $13.52 and a 52-week high of $29.30. The firm has a fifty day moving average price of $22.67 and a 200-day moving average price of $18.99. The stock has a market capitalization of $517.46 million, a price-to-earnings ratio of -78.14 and a beta of 1.38. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.83 and a current ratio of 2.17.
Wall Street Analysts Forecast Growth
FARO has been the subject of several research analyst reports. Needham & Company LLC raised their target price on shares of FARO Technologies from $24.00 to $26.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. StockNews.com upgraded FARO Technologies from a "buy" rating to a "strong-buy" rating in a report on Tuesday, November 12th. Finally, Craig Hallum boosted their target price on shares of FARO Technologies from $30.00 to $33.00 and gave the company a "buy" rating in a report on Thursday.
Check Out Our Latest Analysis on FARO
About FARO Technologies
(
Free Report)
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.
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