FARO Technologies, Inc. (NASDAQ:FARO) Shares Sold by Bank of America Corp DE

Bank of America Corp DE reduced its position in shares of FARO Technologies, Inc. (NASDAQ:FARO - Free Report) by 17.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,419 shares of the scientific and technical instruments company's stock after selling 6,563 shares during the period. Bank of America Corp DE owned 0.16% of FARO Technologies worth $771,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FARO. Quarry LP acquired a new position in shares of FARO Technologies in the 4th quarter valued at $25,000. National Bank of Canada FI purchased a new stake in FARO Technologies in the 4th quarter valued at about $55,000. Covestor Ltd acquired a new position in FARO Technologies in the fourth quarter valued at about $111,000. Aquatic Capital Management LLC purchased a new position in FARO Technologies during the fourth quarter worth about $155,000. Finally, Intech Investment Management LLC acquired a new stake in shares of FARO Technologies during the fourth quarter valued at about $278,000. 97.19% of the stock is currently owned by institutional investors and hedge funds.

FARO Technologies Stock Performance

NASDAQ FARO opened at $42.42 on Monday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.83 and a current ratio of 2.17. The firm has a market cap of $815.57 million, a price-to-earnings ratio of -121.20 and a beta of 1.63. The firm has a 50 day simple moving average of $34.11 and a 200-day simple moving average of $30.38. FARO Technologies, Inc. has a one year low of $13.52 and a one year high of $42.64.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FARO. Wall Street Zen began coverage on shares of FARO Technologies in a report on Friday, May 16th. They issued a "buy" rating on the stock. Craig Hallum cut FARO Technologies from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Finally, Needham & Company LLC lowered FARO Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th.

FARO Technologies Company 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.

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