FARO Technologies, Inc. (NASDAQ:FARO) Stock Position Lowered by BNP Paribas Financial Markets

BNP Paribas Financial Markets cut its holdings in FARO Technologies, Inc. (NASDAQ:FARO - Free Report) by 43.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 29,941 shares of the scientific and technical instruments company's stock after selling 23,210 shares during the period. BNP Paribas Financial Markets owned 0.16% of FARO Technologies worth $573,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in FARO. Royce & Associates LP increased its stake in 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 worth $26,969,000 after acquiring an additional 234,650 shares during the last quarter. Divisar Capital Management LLC increased its stake 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 worth $29,420,000 after buying an additional 90,000 shares during the period. Dimensional Fund Advisors LP lifted its holdings in FARO Technologies by 10.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 604,432 shares of the scientific and technical instruments company's stock worth $9,671,000 after buying an additional 59,142 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in FARO Technologies by 20.4% in the 2nd 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 buying an additional 57,493 shares during the last quarter. Finally, AQR Capital Management LLC acquired a new stake in shares of FARO Technologies during the second quarter valued at about $901,000. Hedge funds and other institutional investors own 97.19% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on FARO shares. Needham & Company LLC increased their target price on FARO Technologies from $24.00 to $26.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. StockNews.com raised shares of 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 stock a "buy" rating in a research report on Thursday.

FARO Technologies Stock Performance

FARO Technologies stock traded down $0.85 during midday trading on Friday, reaching $27.35. 148,214 shares of the stock traded hands, compared to its average volume of 171,829. FARO Technologies, Inc. has a fifty-two week low of $13.52 and a fifty-two week high of $29.30. 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 $517.46 million, a price-to-earnings ratio of -78.14 and a beta of 1.38. The firm has a fifty day moving average price of $22.67 and a two-hundred day moving average price of $18.99.

FARO Technologies 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.