Hodges Capital Management Inc. bought a new position in FARO Technologies, Inc. (NASDAQ:FARO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 124,000 shares of the scientific and technical instruments company's stock, valued at approximately $3,144,000. Hodges Capital Management Inc. owned about 0.66% of FARO Technologies at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of FARO. Royce & Associates LP boosted its position 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 worth $26,969,000 after purchasing an additional 234,650 shares in the last quarter. Needham Investment Management LLC boosted its holdings in FARO Technologies by 20.0% in the third quarter. Needham Investment Management LLC now owns 1,029,250 shares of the scientific and technical instruments company's stock worth $19,700,000 after acquiring an additional 171,300 shares in the last quarter. Harvey Partners LLC grew its stake in shares of 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 last quarter. Polar Asset Management Partners Inc. increased its holdings in shares of FARO Technologies by 0.4% during the third 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 acquiring an additional 2,700 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of 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 purchasing an additional 59,142 shares during the last quarter. Hedge funds and other institutional investors own 97.19% of the company's stock.
FARO Technologies Stock Performance
NASDAQ:FARO traded down $1.26 during mid-day trading on Friday, reaching $29.49. The company's stock had a trading volume of 375,173 shares, compared to its average volume of 243,399. 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 stock has a market cap of $557.95 million, a P/E ratio of -84.25 and a beta of 1.40. The firm's fifty day moving average price is $27.99 and its two-hundred day moving average price is $22.02. FARO Technologies, Inc. has a 12-month low of $13.52 and a 12-month high of $32.90.
Wall Street Analyst Weigh In
Several brokerages recently commented on FARO. Needham & Company LLC increased their price objective on shares of FARO Technologies from $26.00 to $34.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. StockNews.com upgraded 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 price objective on shares of FARO Technologies from $30.00 to $33.00 and gave the stock a "buy" rating in a report on Thursday, December 12th.
Check Out Our Latest Stock Analysis on FARO Technologies
Insider Buying and Selling at FARO Technologies
In related news, Director Yuval Wasserman sold 5,658 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $31.35, for a total value of $177,378.30. Following the completion of the sale, the director now directly owns 153,512 shares of the company's stock, valued at approximately $4,812,601.20. This represents a 3.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.10% of the stock is owned by corporate insiders.
FARO Technologies Profile
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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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