Invenomic Capital Management LP Sells 831 Shares of FARO Technologies, Inc. (NASDAQ:FARO)

Invenomic Capital Management LP lessened its stake in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 0.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 339,411 shares of the scientific and technical instruments company’s stock after selling 831 shares during the quarter. Invenomic Capital Management LP owned 1.77% of FARO Technologies worth $7,301,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. G2 Investment Partners Management LLC bought a new position in FARO Technologies in the 4th quarter valued at $3,423,000. Acadian Asset Management LLC raised its position in FARO Technologies by 136.2% in the 1st quarter. Acadian Asset Management LLC now owns 169,882 shares of the scientific and technical instruments company’s stock valued at $3,653,000 after purchasing an additional 97,969 shares during the last quarter. Sierra Summit Advisors LLC bought a new position in FARO Technologies in the 4th quarter valued at $618,000. Assenagon Asset Management S.A. raised its position in FARO Technologies by 19.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 182,023 shares of the scientific and technical instruments company’s stock valued at $4,101,000 after purchasing an additional 29,279 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in FARO Technologies by 1.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 257,109 shares of the scientific and technical instruments company’s stock valued at $5,793,000 after purchasing an additional 4,610 shares during the last quarter. Institutional investors own 97.19% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Yuval Wasserman sold 8,986 shares of FARO Technologies stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $18.65, for a total transaction of $167,588.90. Following the completion of the sale, the chairman now directly owns 202,835 shares of the company’s stock, valued at $3,782,872.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 30,036 shares of company stock valued at $518,303 over the last three months. Company insiders own 2.10% of the company’s stock.

FARO Technologies Trading Down 1.2 %

Shares of FARO Technologies stock traded down $0.20 during trading on Tuesday, reaching $16.88. 97,237 shares of the company were exchanged, compared to its average volume of 181,178. The company has a quick ratio of 2.03, a current ratio of 2.35 and a debt-to-equity ratio of 0.28. FARO Technologies, Inc. has a twelve month low of $12.34 and a twelve month high of $24.80. The business has a 50-day moving average price of $17.26 and a 200-day moving average price of $19.52. The firm has a market capitalization of $324.26 million, a price-to-earnings ratio of -7.50 and a beta of 1.25.

FARO Technologies (NASDAQ:FARO) last announced its quarterly earnings data on Wednesday, May 1st. The scientific and technical instruments company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.11). FARO Technologies had a negative return on equity of 16.09% and a negative net margin of 11.92%. The company had revenue of $84.24 million for the quarter. During the same period in the previous year, the business posted ($1.12) earnings per share.

Analysts Set New Price Targets

Several brokerages have issued reports on FARO. StockNews.com upgraded FARO Technologies from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Needham & Company LLC restated a “buy” rating and set a $27.00 target price on shares of FARO Technologies in a research report on Friday, May 3rd.

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.