FARO Technologies, Inc. (NASDAQ:FARO) Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. reduced its stake in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 1.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 513,997 shares of the scientific and technical instruments company’s stock after selling 9,121 shares during the period. Pinnacle Associates Ltd.’s holdings in FARO Technologies were worth $8,224,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in FARO. Bank of New York Mellon Corp lifted its position in FARO Technologies by 5.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 76,337 shares of the scientific and technical instruments company’s stock worth $1,221,000 after acquiring an additional 4,174 shares during the period. Assenagon Asset Management S.A. boosted its position in FARO Technologies by 20.4% in the second quarter. Assenagon Asset Management S.A. now owns 339,506 shares of the scientific and technical instruments company’s stock valued at $5,432,000 after buying an additional 57,493 shares during the last quarter. CWM LLC increased its holdings in FARO Technologies by 343.6% in the 2nd quarter. CWM LLC now owns 2,360 shares of the scientific and technical instruments company’s stock worth $38,000 after buying an additional 1,828 shares during the period. Swedbank AB acquired a new stake in FARO Technologies during the 1st quarter valued at approximately $3,226,000. Finally, Kennedy Capital Management LLC raised its holdings in shares of FARO Technologies by 105.1% during the first 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 last quarter. 97.19% of the stock is owned by hedge funds and other institutional investors.

FARO Technologies Trading Up 1.6 %

Shares of FARO Technologies stock opened at $18.00 on Friday. The firm has a 50-day simple moving average of $16.42 and a two-hundred day simple moving average of $18.55. The company has a current ratio of 2.33, a quick ratio of 2.01 and a debt-to-equity ratio of 0.27. FARO Technologies, Inc. has a fifty-two week low of $12.34 and a fifty-two week high of $24.80.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other FARO Technologies news, Director Yuval Wasserman sold 10,149 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $16.52, for a total value of $167,661.48. Following the sale, the director now directly owns 183,476 shares of the company’s stock, valued at $3,031,023.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders sold 30,036 shares of company stock valued at $518,303. 2.10% of the stock is owned by company insiders.

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.