Harvey Partners LLC lifted its position in FARO Technologies, Inc. (NASDAQ:FARO - Free Report) by 17.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,006,000 shares of the scientific and technical instruments company's stock after purchasing an additional 152,000 shares during the quarter. FARO Technologies accounts for about 2.2% of Harvey Partners LLC's holdings, making the stock its 20th largest holding. Harvey Partners LLC owned approximately 5.32% of FARO Technologies worth $19,255,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd purchased a new position in shares of FARO Technologies in the 3rd quarter worth about $213,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of FARO Technologies by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 222,559 shares of the scientific and technical instruments company's stock worth $4,260,000 after purchasing an additional 10,228 shares in the last quarter. Quest Partners LLC boosted its holdings in shares of FARO Technologies by 196.7% in the 3rd quarter. Quest Partners LLC now owns 31,622 shares of the scientific and technical instruments company's stock worth $605,000 after purchasing an additional 20,963 shares in the last quarter. Royce & Associates LP lifted its stake in shares of FARO Technologies by 20.0% in the 3rd 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 during the last quarter. Finally, GSA Capital Partners LLP lifted its stake in shares of FARO Technologies by 27.6% in the 3rd quarter. GSA Capital Partners LLP now owns 78,277 shares of the scientific and technical instruments company's stock valued at $1,498,000 after acquiring an additional 16,944 shares during the last quarter. 97.19% of the stock is currently owned by hedge funds and other institutional investors.
FARO Technologies Stock Down 0.4 %
Shares of FARO Technologies stock traded down $0.11 during midday trading on Tuesday, hitting $26.46. The company had a trading volume of 110,078 shares, compared to its average volume of 206,415. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.83 and a current ratio of 2.17. The company has a 50 day moving average of $21.12 and a 200 day moving average of $18.47. FARO Technologies, Inc. has a 52-week low of $13.52 and a 52-week high of $28.04.
Insider Buying and Selling at FARO Technologies
In other FARO Technologies 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 transaction of $90,601.45. Following the sale, the chief executive officer now directly owns 133,975 shares in the company, valued at approximately $2,233,363.25. This trade represents a 3.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.10% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on the company. StockNews.com raised FARO Technologies from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, November 12th. Craig Hallum upped their price target on FARO Technologies from $25.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC upped their price target on FARO Technologies from $24.00 to $26.00 and gave the company a "buy" rating in a research report on Thursday, November 7th.
Read Our Latest Research Report on FARO
FARO Technologies Profile
(
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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