Range Financial Group LLC Raises Position in FARO Technologies, Inc. (NASDAQ:FARO)

Range Financial Group LLC increased its position in FARO Technologies, Inc. (NASDAQ:FARO - Free Report) by 123.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 33,004 shares of the scientific and technical instruments company's stock after purchasing an additional 18,248 shares during the period. Range Financial Group LLC owned about 0.17% of FARO Technologies worth $901,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Quarry LP bought a new position in FARO Technologies during the fourth quarter valued at about $25,000. National Bank of Canada FI acquired a new position in shares of FARO Technologies in the fourth quarter valued at $55,000. Lazard Asset Management LLC bought a new stake in FARO Technologies in the fourth quarter valued at about $78,000. Covestor Ltd acquired a new position in shares of FARO Technologies in the 4th quarter worth approximately $111,000. Finally, Aquatic Capital Management LLC acquired a new stake in shares of FARO Technologies in the 4th quarter valued at $155,000. Hedge funds and other institutional investors own 97.19% of the company's stock.

Wall Street Analysts Forecast Growth

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

FARO Technologies Price Performance

Shares of FARO traded up $0.01 during mid-day trading on Thursday, reaching $42.56. The company had a trading volume of 454,271 shares, compared to its average volume of 307,862. The company has a market capitalization of $818.26 million, a price-to-earnings ratio of -121.60 and a beta of 1.63. 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's 50 day simple moving average is $35.13 and its 200 day simple moving average is $30.66. FARO Technologies, Inc. has a 1-year low of $13.52 and a 1-year high of $42.80.

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.