FARO Technologies, Inc. (NASDAQ:FARO) Shares Purchased by Teton Advisors Inc.

Teton Advisors Inc. increased its stake in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 4.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,300 shares of the scientific and technical instruments company’s stock after acquiring an additional 500 shares during the quarter. Teton Advisors Inc. owned about 0.07% of FARO Technologies worth $647,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in FARO. Norges Bank acquired a new stake in FARO Technologies during the 4th quarter worth $14,779,000. Pinnacle Associates Ltd. acquired a new stake in FARO Technologies during the 1st quarter worth $8,479,000. Baillie Gifford & Co. raised its stake in FARO Technologies by 9.7% during the 1st quarter. Baillie Gifford & Co. now owns 389,286 shares of the scientific and technical instruments company’s stock worth $17,093,000 after acquiring an additional 34,301 shares in the last quarter. Millennium Management LLC raised its stake in FARO Technologies by 233.3% during the 4th quarter. Millennium Management LLC now owns 39,841 shares of the scientific and technical instruments company’s stock worth $1,619,000 after acquiring an additional 27,888 shares in the last quarter. Finally, Penserra Capital Management LLC raised its stake in FARO Technologies by 2,116.9% during the 1st quarter. Penserra Capital Management LLC now owns 15,385 shares of the scientific and technical instruments company’s stock worth $864,000 after acquiring an additional 14,691 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

FARO stock traded up $1.88 during trading on Monday, reaching $52.00. 384 shares of the company were exchanged, compared to its average volume of 119,074. The company has a market cap of $843.03 million, a P/E ratio of 112.67 and a beta of 1.79. FARO Technologies, Inc. has a 52-week low of $37.58 and a 52-week high of $69.00. The stock’s 50 day moving average price is $50.09 and its 200 day moving average price is $48.77. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.45 and a current ratio of 3.16.

FARO Technologies (NASDAQ:FARO) last released its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.27. The firm had revenue of $93.50 million for the quarter, compared to the consensus estimate of $96.32 million. FARO Technologies had a negative net margin of 0.75% and a positive return on equity of 3.42%. The firm’s revenue was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.07 earnings per share. As a group, equities research analysts forecast that FARO Technologies, Inc. will post 0.33 EPS for the current year.

A number of research firms have commented on FARO. ValuEngine upgraded shares of FARO Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. BidaskClub downgraded shares of FARO Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th. Zacks Investment Research downgraded shares of FARO Technologies from a “hold” rating to a “sell” rating in a report on Monday, August 12th. Finally, Needham & Company LLC downgraded shares of FARO Technologies from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. FARO Technologies has an average rating of “Hold” and an average price target of $56.95.

In related news, Director John Donofrio sold 2,873 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $52.43, for a total transaction of $150,631.39. Following the sale, the director now owns 21,075 shares of the company’s stock, valued at $1,104,962.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.10% of the stock is currently owned by insiders.

About FARO Technologies

FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven three-dimensional (3D) measurement and imaging solutions. It operates through three segments: 3D Manufacturing, Construction BIM, and Emerging Verticals. The company offers FaroArm, a combination of a portable articulated measurement arm, a computer, and CAM2 software programs; and FARO ScanArm, a FaroArm equipped with a hard probe and non-contact laser line probe to measure products.

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Institutional Ownership by Quarter for FARO Technologies (NASDAQ:FARO)

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