Verition Fund Management LLC cut its stake in shares of FARO Technologies, Inc. (NASDAQ:FARO - Free Report) by 99.5% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 10,300 shares of the scientific and technical instruments company's stock after selling 2,047,519 shares during the period. Verition Fund Management LLC owned approximately 0.05% of FARO Technologies worth $197,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP increased its stake in shares of FARO Technologies by 912.2% in the second quarter. Quarry LP now owns 1,832 shares of the scientific and technical instruments company's stock worth $29,000 after buying an additional 1,651 shares during the last quarter. CWM LLC grew its position in shares of FARO Technologies by 343.6% during the 2nd quarter. CWM LLC now owns 2,360 shares of the scientific and technical instruments company's stock valued at $38,000 after buying an additional 1,828 shares during the last quarter. SG Americas Securities LLC acquired a new stake in FARO Technologies during the third quarter worth about $141,000. Dynamic Technology Lab Private Ltd bought a new position in FARO Technologies in the third quarter worth about $213,000. Finally, American Century Companies Inc. boosted its stake in FARO Technologies by 16.7% in the second quarter. American Century Companies Inc. now owns 20,903 shares of the scientific and technical instruments company's stock valued at $334,000 after acquiring an additional 2,993 shares during the period. 97.19% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms have commented on FARO. Needham & Company LLC raised their target price on shares of FARO Technologies from $24.00 to $26.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Craig Hallum raised their price objective on shares of FARO Technologies from $30.00 to $33.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. Finally, StockNews.com upgraded FARO Technologies from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, November 12th.
Read Our Latest Analysis on FARO
FARO Technologies Stock Performance
Shares of NASDAQ FARO traded down $0.59 during trading hours on Tuesday, hitting $27.60. 190,755 shares of the stock were exchanged, compared to its average volume of 171,895. The firm has a market capitalization of $522.11 million, a P/E ratio of -78.86 and a beta of 1.38. FARO Technologies, Inc. has a one year low of $13.52 and a one year high of $29.30. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.17 and a quick ratio of 1.83. The company's 50 day moving average is $22.87 and its 200 day moving average is $19.06.
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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