FARO Technologies, Inc. (NASDAQ:FARO) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC decreased its holdings in FARO Technologies, Inc. (NASDAQ:FARO) by 53.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 97,145 shares of the scientific and technical instruments company’s stock after selling 113,433 shares during the quarter. Cubist Systematic Strategies LLC owned 0.51% of FARO Technologies worth $1,554,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. CWM LLC boosted its stake in shares of FARO Technologies by 343.6% during the 2nd quarter. CWM LLC now owns 2,360 shares of the scientific and technical instruments company’s stock valued at $38,000 after buying an additional 1,828 shares during the period. American Century Companies Inc. raised its holdings in FARO Technologies by 16.7% in the 2nd quarter. American Century Companies Inc. now owns 20,903 shares of the scientific and technical instruments company’s stock worth $334,000 after acquiring an additional 2,993 shares during the period. Sierra Summit Advisors LLC bought a new position in FARO Technologies in the 4th quarter worth $618,000. Price T Rowe Associates Inc. MD increased its holdings in shares of FARO Technologies by 3.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,806 shares of the scientific and technical instruments company’s stock worth $642,000 after purchasing an additional 897 shares during the period. Finally, 272 Capital LP increased its holdings in shares of FARO Technologies by 54.9% during the 2nd quarter. 272 Capital LP now owns 56,729 shares of the scientific and technical instruments company’s stock worth $908,000 after purchasing an additional 20,100 shares during the period. Institutional investors and hedge funds own 97.19% of the company’s stock.

FARO Technologies Stock Down 5.1 %

NASDAQ:FARO opened at $18.16 on Wednesday. The stock has a 50-day simple moving average of $16.88 and a 200 day simple moving average of $17.95. FARO Technologies, Inc. has a 52-week low of $12.34 and a 52-week high of $24.80. The company has a market cap of $348.78 million, a PE ratio of -8.04 and a beta of 1.25. 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 (NASDAQ:FARO) last announced its quarterly earnings data on Thursday, August 8th. The scientific and technical instruments company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.14. The company 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%.

Wall Street Analysts Forecast Growth

FARO has been the subject of several analyst reports. Craig Hallum cut their target price on 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 dropped their target price on shares of FARO Technologies from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Friday, August 9th.

Insider Buying and Selling

In related news, CEO Peter James Lau sold 5,435 shares of FARO Technologies stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $16.67, for a total transaction of $90,601.45. Following the completion of the sale, the chief executive officer now owns 133,975 shares of the company’s stock, valued at approximately $2,233,363.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.10% of the stock is currently owned by insiders.

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.