AQR Capital Management LLC Acquires Shares of 56,328 FARO Technologies, Inc. (NASDAQ:FARO)

AQR Capital Management LLC bought a new position in FARO Technologies, Inc. (NASDAQ:FARO) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 56,328 shares of the scientific and technical instruments company’s stock, valued at approximately $901,000. AQR Capital Management LLC owned approximately 0.29% of FARO Technologies at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. CWM LLC raised its stake in FARO Technologies by 343.6% during the second quarter. CWM LLC now owns 2,360 shares of the scientific and technical instruments company’s stock worth $38,000 after acquiring an additional 1,828 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of 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 purchasing an additional 2,993 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position 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 in the last quarter. 272 Capital LP lifted its holdings in 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 valued at $908,000 after purchasing an additional 20,100 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in FARO Technologies by 5.8% in the second quarter. Bank of New York Mellon Corp now owns 76,337 shares of the scientific and technical instruments company’s stock valued at $1,221,000 after buying an additional 4,174 shares in the last quarter. 97.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FARO has been the subject of several recent analyst reports. Needham & Company LLC dropped their price objective 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. Craig Hallum cut their price objective 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.

FARO Technologies Trading Up 3.0 %

Shares of NASDAQ FARO opened at $18.27 on Friday. FARO Technologies, Inc. has a 1-year low of $12.34 and a 1-year high of $24.80. The company has a 50-day moving average of $17.10 and a two-hundred day moving average of $17.78. The company has a market cap of $350.89 million, a PE ratio of -8.12 and a beta of 1.25. The company has a current ratio of 2.33, a quick ratio of 2.01 and a debt-to-equity ratio of 0.27.

FARO Technologies (NASDAQ:FARO) last posted its quarterly earnings data on Thursday, August 8th. The scientific and technical instruments company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.14. The firm had revenue of $82.09 million during the quarter. FARO Technologies had a negative net margin of 4.25% and a negative return on equity of 5.72%.

Insider Buying and Selling

In other FARO Technologies news, CEO Peter James Lau sold 5,435 shares of the company’s 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 transaction, the chief executive officer now directly owns 133,975 shares in the company, valued at approximately $2,233,363.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.