Polar Asset Management Partners Inc. Decreases Stake in FARO Technologies, Inc. (NASDAQ:FARO)

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

A number of other institutional investors and hedge funds have also recently modified their holdings of FARO. SG Americas Securities LLC lifted its position in FARO Technologies by 13.1% during 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 purchasing an additional 966 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of FARO Technologies by 4.5% in 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 last quarter. Hodges Capital Management Inc. purchased a new position in FARO Technologies in the fourth quarter worth about $3,144,000. American Century Companies Inc. increased its stake in FARO Technologies by 21.8% during the fourth quarter. American Century Companies Inc. now owns 31,048 shares of the scientific and technical instruments company's stock worth $787,000 after acquiring an additional 5,567 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in FARO Technologies by 27.7% during the fourth quarter. Wells Fargo & Company MN now owns 12,307 shares of the scientific and technical instruments company's stock valued at $312,000 after purchasing an additional 2,672 shares during the period. 97.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at FARO Technologies

In other news, CFO Matthew Horwath sold 1,480 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $29.30, for a total transaction of $43,364.00. Following the completion of the sale, the chief financial officer now owns 39,430 shares in the company, valued at approximately $1,155,299. This represents a 3.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Peter James Lau sold 4,617 shares of the business's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $29.30, for a total value of $135,278.10. Following the transaction, the chief executive officer now owns 160,076 shares in the company, valued at approximately $4,690,226.80. This trade represents a 2.80% 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.

FARO Technologies Stock Down 0.1%

NASDAQ:FARO traded down $0.03 during mid-day trading on Tuesday, reaching $42.08. The company's stock had a trading volume of 370,627 shares, compared to its average volume of 277,394. The company has a quick ratio of 1.83, a current ratio of 2.17 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $808.93 million, a PE ratio of -120.21 and a beta of 1.49. The stock has a fifty day moving average of $30.25 and a 200-day moving average of $28.65. FARO Technologies, Inc. has a 1 year low of $13.52 and a 1 year high of $42.64.

FARO Technologies (NASDAQ:FARO - Get Free Report) last announced its quarterly earnings results on Monday, February 24th. The scientific and technical instruments company reported $0.50 earnings per share (EPS) for the quarter, beating 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 business had revenue of $93.54 million for the quarter, compared to the consensus estimate of $91.40 million. During the same period last year, the business posted $0.36 EPS.

Analysts Set New Price Targets

FARO has been the subject of a number of recent research reports. Craig Hallum cut FARO Technologies from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Needham & Company LLC cut shares of FARO Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Finally, StockNews.com began coverage on shares of FARO Technologies in a report on Friday. They issued a "buy" rating for the company.

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.