Quest Partners LLC Sells 3,885 Shares of FARO Technologies, Inc. (NASDAQ:FARO)

Quest Partners LLC lessened its holdings in FARO Technologies, Inc. (NASDAQ:FARO) by 26.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,659 shares of the scientific and technical instruments company’s stock after selling 3,885 shares during the quarter. Quest Partners LLC owned 0.06% of FARO Technologies worth $171,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. G2 Investment Partners Management LLC acquired a new stake in shares of FARO Technologies in the fourth quarter valued at about $3,423,000. Vanguard Group Inc. raised its stake in shares of FARO Technologies by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 1,589,519 shares of the scientific and technical instruments company’s stock worth $34,191,000 after purchasing an additional 64,095 shares in the last quarter. Swedbank AB acquired a new stake in shares of FARO Technologies in the 1st quarter valued at approximately $3,226,000. Acadian Asset Management LLC grew its stake in shares of FARO Technologies by 136.2% in the first quarter. Acadian Asset Management LLC now owns 169,882 shares of the scientific and technical instruments company’s stock valued at $3,653,000 after buying an additional 97,969 shares in the last quarter. Finally, Kennedy Capital Management LLC increased its holdings in FARO Technologies by 105.1% during the first quarter. Kennedy Capital Management LLC now owns 437,589 shares of the scientific and technical instruments company’s stock worth $9,413,000 after buying an additional 224,273 shares during the last quarter. 97.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other FARO Technologies news, CEO Peter James Lau sold 5,435 shares of the 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 transaction, the chief executive officer now owns 133,975 shares in the company, valued at approximately $2,233,363.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

FARO Technologies Price Performance

NASDAQ:FARO opened at $17.49 on Monday. The firm’s fifty day moving average price is $16.65 and its two-hundred day moving average price is $18.22. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.33 and a quick ratio of 2.01. The company has a market cap of $341.06 million, a P/E ratio of -7.77 and a beta of 1.25. FARO Technologies, Inc. has a one year low of $12.34 and a one year high of $24.80.

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

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.