Tectonic Advisors LLC Invests $536,000 in FARO Technologies, Inc. (NASDAQ:FARO)

Tectonic Advisors LLC purchased a new stake in FARO Technologies, Inc. (NASDAQ:FARO - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 21,143 shares of the scientific and technical instruments company's stock, valued at approximately $536,000. Tectonic Advisors LLC owned approximately 0.11% of FARO Technologies at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Royce & Associates LP boosted its position in shares of FARO Technologies by 20.0% during 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 lifted its stake in shares of 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 valued at $19,700,000 after purchasing an additional 171,300 shares during the period. Harvey Partners LLC boosted its holdings in FARO Technologies by 17.8% during 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 buying an additional 152,000 shares in the last quarter. Hodges Capital Management Inc. acquired a new position in FARO Technologies during the fourth quarter worth about $3,144,000. Finally, Invenomic Capital Management LP increased its holdings in FARO Technologies by 23.2% in the third quarter. Invenomic Capital Management LP now owns 396,830 shares of the scientific and technical instruments company's stock valued at $7,595,000 after buying an additional 74,631 shares in the last quarter. Institutional investors and hedge funds own 97.19% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FARO shares. Needham & Company LLC boosted their price target on FARO Technologies from $26.00 to $34.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. StockNews.com upgraded FARO Technologies from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, November 12th. Finally, Craig Hallum upped their target price on FARO Technologies from $30.00 to $33.00 and gave the company a "buy" rating in a report on Thursday, December 12th.

Insider Activity at FARO Technologies

In other FARO Technologies news, Director Yuval Wasserman sold 5,658 shares of the business's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $31.35, for a total value of $177,378.30. Following the completion of the transaction, the director now directly owns 153,512 shares in the company, valued at approximately $4,812,601.20. The trade was a 3.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.10% of the company's stock.

FARO Technologies Price Performance

Shares of FARO traded down $1.26 during mid-day trading on Friday, reaching $29.49. 375,173 shares of the company's stock were exchanged, compared to its average volume of 255,585. The company has a quick ratio of 1.83, a current ratio of 2.17 and a debt-to-equity ratio of 0.27. FARO Technologies, Inc. has a 52-week low of $13.52 and a 52-week high of $32.90. The company has a market cap of $557.95 million, a price-to-earnings ratio of -84.25 and a beta of 1.40. The company has a 50-day simple moving average of $28.06 and a two-hundred day simple moving average of $22.10.

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.