Verition Fund Management LLC Sells 2,047,519 Shares of FARO Technologies, Inc. (NASDAQ:FARO)

Verition Fund Management LLC lowered its stake in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 99.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,300 shares of the scientific and technical instruments company’s stock after selling 2,047,519 shares during the quarter. Verition Fund Management LLC owned about 0.05% of FARO Technologies worth $197,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of FARO. Royce & Associates LP increased its position in shares of FARO Technologies by 20.0% during the third quarter. Royce & Associates LP now owns 1,409,031 shares of the scientific and technical instruments company’s stock valued at $26,969,000 after buying an additional 234,650 shares during the period. Divisar Capital Management LLC grew its holdings in FARO Technologies by 5.1% in the second 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 purchasing an additional 90,000 shares during the period. Dimensional Fund Advisors LP grew its holdings in FARO Technologies by 10.8% in the second quarter. Dimensional Fund Advisors LP now owns 604,432 shares of the scientific and technical instruments company’s stock worth $9,671,000 after purchasing an additional 59,142 shares during the period. Assenagon Asset Management S.A. grew its holdings 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 worth $5,432,000 after purchasing an additional 57,493 shares during the period. Finally, AQR Capital Management LLC purchased a new stake in FARO Technologies in the second quarter worth about $901,000. Hedge funds and other institutional investors own 97.19% of the company’s stock.

FARO Technologies Trading Up 3.1 %

NASDAQ:FARO opened at $28.19 on Tuesday. FARO Technologies, Inc. has a 52 week low of $13.52 and a 52 week high of $29.30. The company has a quick ratio of 1.83, a current ratio of 2.17 and a debt-to-equity ratio of 0.27. The company’s 50 day moving average price is $22.87 and its 200-day moving average price is $19.06. The stock has a market cap of $533.27 million, a price-to-earnings ratio of -80.54 and a beta of 1.38.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on FARO shares. Needham & Company LLC upped their price objective on shares of FARO Technologies from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. StockNews.com upgraded shares of FARO Technologies from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Finally, Craig Hallum increased their price target on shares of FARO Technologies from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, December 12th.

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.