56,328 Shares in FARO Technologies, Inc. (NASDAQ:FARO) Bought by AQR Capital Management LLC

AQR Capital Management LLC bought a new stake in FARO Technologies, Inc. (NASDAQ:FARO) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 56,328 shares of the scientific and technical instruments company’s stock, valued at approximately $901,000.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of FARO Technologies by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 1,589,519 shares of the scientific and technical instruments company’s stock valued at $34,191,000 after purchasing an additional 64,095 shares during the period. Swedbank AB acquired a new stake in shares of FARO Technologies during the first quarter worth $3,226,000. Acadian Asset Management LLC lifted 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 acquiring an additional 97,969 shares in the last quarter. Kennedy Capital Management LLC boosted its stake in FARO Technologies by 105.1% in the 1st quarter. Kennedy Capital Management LLC now owns 437,589 shares of the scientific and technical instruments company’s stock worth $9,413,000 after purchasing an additional 224,273 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in FARO Technologies by 20.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 339,506 shares of the scientific and technical instruments company’s stock worth $5,432,000 after purchasing an additional 57,493 shares in the last quarter. 97.19% of the stock is currently owned by institutional investors.

FARO Technologies Price Performance

NASDAQ:FARO opened at $18.27 on Friday. The stock’s 50-day simple moving average is $17.10 and its 200 day simple moving average is $17.78. FARO Technologies, Inc. has a 52-week low of $12.34 and a 52-week high of $24.80. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.01 and a current ratio of 2.33. The company has a market cap of $350.89 million, a P/E ratio of -8.12 and a beta of 1.25.

FARO Technologies (NASDAQ:FARO) last announced its quarterly earnings data on Thursday, August 8th. The scientific and technical instruments company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.14. FARO Technologies had a negative return on equity of 5.72% and a negative net margin of 4.25%. The company had revenue of $82.09 million for the quarter.

Analyst Ratings Changes

Several research firms have recently weighed in on FARO. Craig Hallum reduced their price objective on FARO Technologies from $29.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Needham & Company LLC cut their price objective on shares of FARO Technologies from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Friday, August 9th.

Insider Activity

In other news, CEO Peter James Lau sold 5,435 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $16.67, for a total value of $90,601.45. Following the sale, the chief executive officer now directly owns 133,975 shares of the company’s stock, valued at approximately $2,233,363.25. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.10% of the company’s stock.

FARO Technologies 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.