Bailard Inc. Sells 4,624 Shares of FARO Technologies, Inc. (NASDAQ:FARO)

Bailard Inc. trimmed its position in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 29.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,276 shares of the scientific and technical instruments company’s stock after selling 4,624 shares during the period. Bailard Inc. owned about 0.06% of FARO Technologies worth $286,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of FARO. SG Americas Securities LLC boosted its position in FARO Technologies by 13.1% during the fourth quarter. SG Americas Securities LLC now owns 8,345 shares of the scientific and technical instruments company’s stock valued at $212,000 after buying an additional 966 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in FARO Technologies during the 3rd quarter valued at about $213,000. Range Financial Group LLC bought a new position in FARO Technologies during the 4th quarter worth approximately $374,000. Tectonic Advisors LLC bought a new position in FARO Technologies during the 4th quarter worth approximately $536,000. Finally, Quest Partners LLC increased its stake in FARO Technologies by 196.7% in the 3rd quarter. Quest Partners LLC now owns 31,622 shares of the scientific and technical instruments company’s stock worth $605,000 after purchasing an additional 20,963 shares during the period. Institutional investors own 97.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. StockNews.com cut shares of FARO Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Needham & Company LLC raised their price target on shares of FARO Technologies from $34.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Finally, Craig Hallum upped their price objective on shares of FARO Technologies from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, December 12th.

FARO Technologies Stock Performance

NASDAQ:FARO opened at $31.03 on Thursday. 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 firm’s fifty day simple moving average is $29.02 and its 200 day simple moving average is $23.84. The stock has a market cap of $589.01 million, a P/E ratio of -88.65 and a beta of 1.40. FARO Technologies, Inc. has a twelve month low of $13.52 and a twelve month high of $33.13.

FARO Technologies (NASDAQ:FARO) last posted its earnings results on Monday, February 24th. The scientific and technical instruments company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.40 by $0.10. FARO Technologies had a negative net margin of 1.87% and a negative return on equity of 2.49%. The firm had revenue of $93.54 million during the quarter, compared to analysts’ expectations of $91.40 million. During the same period last year, the company posted $0.36 EPS.

Insider Buying and Selling at FARO Technologies

In other FARO Technologies news, Director Yuval Wasserman sold 5,658 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $31.35, for a total transaction of $177,378.30. Following the completion of the transaction, the director now owns 153,512 shares of the company’s stock, valued at approximately $4,812,601.20. This trade represents a 3.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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.