Nisa Investment Advisors LLC Sells 840 Shares of FARO Technologies, Inc. (NASDAQ:FARO)

Nisa Investment Advisors LLC decreased its position in FARO Technologies, Inc. (NASDAQ:FARO) by 17.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,019 shares of the scientific and technical instruments company’s stock after selling 840 shares during the quarter. Nisa Investment Advisors LLC’s holdings in FARO Technologies were worth $77,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in FARO. Divisar Capital Management LLC boosted its holdings in shares of FARO Technologies by 5.1% in the 2nd quarter. Divisar Capital Management LLC now owns 1,838,777 shares of the scientific and technical instruments company’s stock worth $29,420,000 after acquiring an additional 90,000 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of FARO Technologies by 4.2% during the first quarter. Vanguard Group Inc. now owns 1,589,519 shares of the scientific and technical instruments company’s stock worth $34,191,000 after purchasing an additional 64,095 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of FARO Technologies by 10.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 604,432 shares of the scientific and technical instruments company’s stock valued at $9,671,000 after acquiring an additional 59,142 shares during the last quarter. Kennedy Capital Management LLC increased its stake in FARO Technologies by 105.1% in the first quarter. Kennedy Capital Management LLC now owns 437,589 shares of the scientific and technical instruments company’s stock valued at $9,413,000 after purchasing an additional 224,273 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake 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 buying an additional 57,493 shares during the period. Institutional investors and hedge funds own 97.19% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on FARO shares. Craig Hallum raised their target price on shares of FARO Technologies from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday. Needham & Company LLC increased their price target on FARO Technologies from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday.

FARO Technologies Stock Up 36.5 %

Shares of FARO stock opened at $25.70 on Friday. The firm’s 50-day moving average is $18.09 and its 200-day moving average is $17.58. The stock has a market cap of $501.15 million, a price-to-earnings ratio of -32.53 and a beta of 1.26. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.01 and a current ratio of 2.33. FARO Technologies, Inc. has a 52-week low of $13.52 and a 52-week high of $26.32.

FARO Technologies (NASDAQ:FARO) last posted its earnings results on Thursday, August 8th. The scientific and technical instruments company reported ($0.03) earnings per share 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 business had revenue of $82.09 million for the quarter.

Insider Buying and Selling at FARO Technologies

In other news, CEO Peter James Lau sold 5,435 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $16.67, for a total transaction of $90,601.45. Following the completion of the sale, the chief executive officer now owns 133,975 shares in the company, valued at approximately $2,233,363.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate 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.