FARO Technologies, Inc. (NASDAQ:FARO) Shares Sold by Invenomic Capital Management LP

Invenomic Capital Management LP decreased its position in shares of FARO Technologies, Inc. (NASDAQ:FARO - Free Report) by 13.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 341,970 shares of the scientific and technical instruments company's stock after selling 54,860 shares during the period. Invenomic Capital Management LP owned 1.81% of FARO Technologies worth $8,672,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Quarry LP acquired a new position in shares of FARO Technologies during the fourth quarter worth $25,000. National Bank of Canada FI purchased a new position in FARO Technologies during the 4th quarter worth $55,000. Covestor Ltd acquired a new position in FARO Technologies during the 4th quarter valued at about $111,000. Aquatic Capital Management LLC acquired a new position in FARO Technologies during the 4th quarter valued at about $155,000. Finally, SG Americas Securities LLC raised its stake in FARO Technologies by 13.1% in 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 last quarter. 97.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Peter James Lau sold 4,617 shares of the business's stock in a transaction 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 directly owns 160,076 shares in the company, valued at $4,690,226.80. The trade was a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Matthew Horwath sold 1,480 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $29.30, for a total value of $43,364.00. Following the sale, the chief financial officer now directly owns 39,430 shares in the company, valued at $1,155,299. This represents a 3.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.40% of the company's stock.

Analysts Set New Price Targets

FARO has been the topic of a number of research analyst reports. Craig Hallum lowered FARO Technologies from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Needham & Company LLC downgraded shares of FARO Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Finally, StockNews.com assumed coverage on shares of FARO Technologies in a research note on Friday. They set a "buy" rating on the stock.

FARO Technologies Stock Performance

FARO traded up $0.04 on Friday, reaching $42.28. 613,486 shares of the stock were exchanged, compared to its average volume of 274,207. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.17 and a quick ratio of 1.83. The company's 50-day moving average price is $29.71 and its 200 day moving average price is $28.16. The firm has a market capitalization of $812.88 million, a PE ratio of -120.80 and a beta of 1.49. FARO Technologies, Inc. has a fifty-two week low of $13.52 and a fifty-two week high of $42.64.

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

About FARO Technologies

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.