Inceptionr LLC Takes $306,000 Position in FARO Technologies, Inc. (NASDAQ:FARO)

Inceptionr LLC bought a new position in shares of FARO Technologies, Inc. (NASDAQ:FARO) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 12,084 shares of the scientific and technical instruments company’s stock, valued at approximately $306,000. Inceptionr LLC owned about 0.06% of FARO Technologies as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in FARO. Harvey Partners LLC lifted its stake in shares of FARO Technologies by 17.8% in the 3rd quarter. Harvey Partners LLC now owns 1,006,000 shares of the scientific and technical instruments company’s stock valued at $19,255,000 after purchasing an additional 152,000 shares during the period. Quest Partners LLC boosted its position in shares of FARO Technologies by 196.7% during the third quarter. Quest Partners LLC now owns 31,622 shares of the scientific and technical instruments company’s stock valued at $605,000 after buying an additional 20,963 shares during the last quarter. Barclays PLC grew its stake in shares of FARO Technologies by 41.4% in the 3rd quarter. Barclays PLC now owns 61,125 shares of the scientific and technical instruments company’s stock worth $1,171,000 after acquiring an additional 17,892 shares in the last quarter. Geode Capital Management LLC grew its position in FARO Technologies by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 450,899 shares of the scientific and technical instruments company’s stock worth $8,633,000 after purchasing an additional 19,005 shares in the last quarter. Finally, Royce & Associates LP grew its holdings in shares of FARO Technologies by 20.0% in 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 acquiring an additional 234,650 shares in the last quarter. 97.19% of the stock is currently owned by institutional investors.

FARO Technologies Stock Down 1.6 %

NASDAQ FARO opened at $29.28 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.17 and a quick ratio of 1.83. FARO Technologies, Inc. has a 1 year low of $13.52 and a 1 year high of $33.13. The stock has a market capitalization of $555.79 million, a PE ratio of -83.65 and a beta of 1.55. The business’s 50-day moving average is $29.28 and its 200 day moving average is $24.13.

FARO Technologies (NASDAQ:FARO) last issued its quarterly earnings data 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 business had revenue of $93.54 million during the quarter, compared to analyst estimates of $91.40 million. During the same period last year, the business posted $0.36 earnings per share.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. StockNews.com upgraded shares of FARO Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Needham & Company LLC upped their price target on FARO Technologies from $34.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Finally, Craig Hallum raised their target price 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.

Insider Buying and Selling

In related news, Director Yuval Wasserman sold 5,658 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $31.35, for a total transaction of $177,378.30. Following the completion of the sale, the director now owns 153,512 shares of the company’s stock, valued at $4,812,601.20. This trade represents a 3.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.10% of the stock is currently owned by 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.