Point72 Asia Singapore Pte. Ltd. Cuts Position in FARO Technologies, Inc. (NASDAQ:FARO)

Point72 Asia Singapore Pte. Ltd. reduced its stake in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 73.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,905 shares of the scientific and technical instruments company’s stock after selling 11,026 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in FARO Technologies were worth $62,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its position in FARO Technologies by 3.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 29,806 shares of the scientific and technical instruments company’s stock worth $642,000 after buying an additional 897 shares during the period. CWM LLC grew its holdings in shares of 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 acquiring an additional 1,828 shares during the period. American Century Companies Inc. increased its stake in FARO Technologies by 16.7% in the 2nd quarter. American Century Companies Inc. now owns 20,903 shares of the scientific and technical instruments company’s stock valued at $334,000 after purchasing an additional 2,993 shares in the last quarter. Bank of New York Mellon Corp increased its stake in FARO Technologies by 5.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 76,337 shares of the scientific and technical instruments company’s stock valued at $1,221,000 after purchasing an additional 4,174 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in FARO Technologies by 8.4% during the first quarter. BNP Paribas Financial Markets now owns 65,061 shares of the scientific and technical instruments company’s stock worth $1,399,000 after purchasing an additional 5,035 shares during the last quarter. 97.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FARO has been the subject of a number of research analyst reports. Needham & Company LLC dropped their price target on FARO Technologies from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Craig Hallum dropped their target price on shares of FARO Technologies from $29.00 to $25.00 and set a “buy” rating for the company in a report on Friday, August 9th.

FARO Technologies Price Performance

FARO stock opened at $19.06 on Monday. The stock’s 50 day moving average price is $16.85 and its 200 day moving average price is $17.96. The firm has a market cap of $366.07 million, a P/E ratio of -8.47 and a beta of 1.25. 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 1 year low of $12.34 and a 1 year high of $24.80.

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

Insider Buying and Selling at FARO Technologies

In other news, CEO Peter James Lau sold 5,435 shares of FARO Technologies 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 directly owns 133,975 shares in the company, valued at $2,233,363.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.10% of the stock is owned by insiders.

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.