Bank of New York Mellon Corp Purchases 4,174 Shares of FARO Technologies, Inc. (NASDAQ:FARO)

Bank of New York Mellon Corp boosted its position in FARO Technologies, Inc. (NASDAQ:FARO) by 5.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 76,337 shares of the scientific and technical instruments company’s stock after purchasing an additional 4,174 shares during the period. Bank of New York Mellon Corp owned about 0.40% of FARO Technologies worth $1,221,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BNP Paribas Financial Markets lifted its holdings in FARO Technologies by 81.3% during the 4th quarter. BNP Paribas Financial Markets now owns 60,026 shares of the scientific and technical instruments company’s stock worth $1,352,000 after purchasing an additional 26,919 shares during the last quarter. Trexquant Investment LP acquired a new position in FARO Technologies in the 4th quarter valued at $918,000. Aigen Investment Management LP bought a new stake in shares of FARO Technologies during the 4th quarter valued at $201,000. King Luther Capital Management Corp grew its holdings in shares of FARO Technologies by 3.9% during the 4th quarter. King Luther Capital Management Corp now owns 80,000 shares of the scientific and technical instruments company’s stock worth $1,802,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Millrace Asset Group Inc. bought a new position in shares of FARO Technologies in the fourth quarter worth $2,118,000. Institutional investors own 97.19% of the company’s stock.

Insider Buying and Selling

In related news, CEO Peter James Lau sold 5,435 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $16.67, for a total transaction of $90,601.45. Following the sale, the chief executive officer now owns 133,975 shares of the company’s stock, valued at approximately $2,233,363.25. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Craig Hallum cut their price objective on shares of FARO Technologies from $29.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Needham & Company LLC cut their price target on shares of FARO Technologies from $27.00 to $24.00 and set a “buy” rating for the company in a report on Friday, August 9th.

FARO Technologies Trading Down 0.9 %

Shares of FARO stock opened at $18.05 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.01 and a current ratio of 2.33. FARO Technologies, Inc. has a fifty-two week low of $12.34 and a fifty-two week high of $24.80. The company has a market cap of $346.67 million, a PE ratio of -8.02 and a beta of 1.25. The stock’s fifty day moving average price is $16.76 and its two-hundred day moving average price is $18.09.

FARO Technologies (NASDAQ:FARO) last released its earnings results on Thursday, August 8th. The scientific and technical instruments company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.14. The firm had revenue of $82.09 million for the quarter. FARO Technologies had a negative return on equity of 5.72% and a negative net margin of 4.25%.

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.