FARO Technologies, Inc. (NASDAQ:FARO) Shares Sold by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. reduced its position in FARO Technologies, Inc. (NASDAQ:FARO - Free Report) by 18.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 552,392 shares of the scientific and technical instruments company's stock after selling 124,404 shares during the period. Polar Asset Management Partners Inc. owned approximately 2.92% of FARO Technologies worth $14,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. SG Americas Securities LLC raised its holdings in FARO Technologies by 13.1% in the 4th quarter. SG Americas Securities LLC now owns 8,345 shares of the scientific and technical instruments company's stock worth $212,000 after purchasing an additional 966 shares during the period. Hodges Capital Management Inc. purchased a new stake in FARO Technologies in the fourth quarter worth about $3,144,000. Tectonic Advisors LLC bought a new position in shares of FARO Technologies in the fourth quarter worth about $536,000. Rhumbline Advisers grew its stake in shares of FARO Technologies by 4.5% during the 4th quarter. Rhumbline Advisers now owns 31,279 shares of the scientific and technical instruments company's stock valued at $793,000 after acquiring an additional 1,333 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in FARO Technologies by 5.4% in the 4th quarter. Bank of New York Mellon Corp now owns 65,722 shares of the scientific and technical instruments company's stock worth $1,667,000 after acquiring an additional 3,373 shares in the last quarter. Institutional investors own 97.19% of the company's stock.

FARO Technologies Trading Up 0.5%

FARO Technologies stock traded up $0.22 during mid-day trading on Wednesday, hitting $42.33. The company's stock had a trading volume of 638,339 shares, compared to its average volume of 289,695. The stock has a market cap of $813.84 million, a PE ratio of -120.94 and a beta of 1.49. FARO Technologies, Inc. has a one year low of $13.52 and a one year high of $42.64. 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 company has a 50 day moving average of $32.10 and a 200-day moving average of $29.55.

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

Analyst Ratings Changes

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

Insider Transactions at FARO Technologies

In other news, CFO Matthew Horwath sold 1,480 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were 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 approximately $1,155,299. This trade represents a 3.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Peter James Lau sold 4,617 shares of FARO Technologies stock in a transaction that occurred on Friday, March 7th. The stock was 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 approximately $4,690,226.80. The trade was a 2.80% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company's stock.

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.