Bastion Asset Management Inc. Takes $5.89 Million Position in FARO Technologies, Inc. (NASDAQ:FARO)

Bastion Asset Management Inc. purchased a new stake in shares of FARO Technologies, Inc. (NASDAQ:FARO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 231,523 shares of the scientific and technical instruments company's stock, valued at approximately $5,892,000. FARO Technologies comprises about 3.9% of Bastion Asset Management Inc.'s investment portfolio, making the stock its 6th biggest holding. Bastion Asset Management Inc. owned about 1.22% of FARO Technologies at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets increased its stake in shares of FARO Technologies by 24.8% in the 4th quarter. BNP Paribas Financial Markets now owns 37,360 shares of the scientific and technical instruments company's stock valued at $947,000 after buying an additional 7,419 shares during the period. Algert Global LLC bought a new position in FARO Technologies in the fourth quarter valued at about $329,000. Northern Trust Corp increased its position in FARO Technologies by 3.1% in the fourth quarter. Northern Trust Corp now owns 171,210 shares of the scientific and technical instruments company's stock worth $4,342,000 after purchasing an additional 5,095 shares during the period. Quarry LP bought a new stake in FARO Technologies during the 4th quarter worth about $25,000. Finally, Aquatic Capital Management LLC acquired a new position in FARO Technologies during the 4th quarter valued at about $155,000. Institutional investors own 97.19% of the company's stock.

Insider Activity

In other FARO Technologies news, CFO Matthew Horwath sold 1,480 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $29.30, for a total transaction of $43,364.00. Following the sale, the chief financial officer now directly owns 39,430 shares in the company, valued at approximately $1,155,299. This trade represents a 3.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Peter James Lau sold 4,617 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $29.30, for a total transaction of $135,278.10. Following the completion of the transaction, the chief executive officer now owns 160,076 shares of the company's stock, valued at $4,690,226.80. This trade represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Craig Hallum cut shares of FARO Technologies from a "buy" rating to a "hold" rating in a research report on Tuesday. StockNews.com cut shares of FARO Technologies from a "strong-buy" rating to a "buy" rating in a research report on Sunday, March 16th. Finally, Needham & Company LLC lowered FARO Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday.

FARO Technologies Trading Down 0.1 %

Shares of NASDAQ:FARO traded down $0.03 during mid-day trading on Wednesday, reaching $42.33. The stock had a trading volume of 2,519,922 shares, compared to its average volume of 238,240. The firm has a 50 day simple moving average of $28.24 and a two-hundred day simple moving average of $27.17. FARO Technologies, Inc. has a twelve month low of $13.52 and a twelve month high of $42.55. The firm has a market cap of $813.91 million, a PE ratio of -120.95 and a beta of 1.49. The company has a current ratio of 2.17, a quick ratio of 1.83 and a debt-to-equity ratio of 0.27.

FARO Technologies (NASDAQ:FARO - Get Free Report) last released its quarterly earnings data on Monday, February 24th. The scientific and technical instruments company reported $0.50 EPS for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $91.40 million. During the same quarter in the prior year, the company earned $0.36 EPS.

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.