Bailard Inc. Takes $256,000 Position in FARO Technologies, Inc. (NASDAQ:FARO)

Bailard Inc. bought a new position in shares of FARO Technologies, Inc. (NASDAQ:FARO) in the 4th quarter, Holdings Channel reports. The fund bought 11,378 shares of the scientific and technical instruments company’s stock, valued at approximately $256,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FARO. Pinnacle Associates Ltd. lifted its position in FARO Technologies by 64.6% during the 4th quarter. Pinnacle Associates Ltd. now owns 493,724 shares of the scientific and technical instruments company’s stock worth $11,124,000 after acquiring an additional 193,757 shares during the period. Kent Lake Capital LLC lifted its holdings in shares of FARO Technologies by 23.8% during the third quarter. Kent Lake Capital LLC now owns 650,000 shares of the scientific and technical instruments company’s stock worth $9,900,000 after purchasing an additional 125,000 shares during the period. Jacobs Levy Equity Management Inc. grew its position in FARO Technologies by 20.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 453,340 shares of the scientific and technical instruments company’s stock valued at $6,904,000 after buying an additional 75,697 shares during the last quarter. B. Riley Asset Management LLC acquired a new position in FARO Technologies in the 3rd quarter valued at $996,000. Finally, Assenagon Asset Management S.A. raised its position in FARO Technologies by 31.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 152,744 shares of the scientific and technical instruments company’s stock worth $2,326,000 after buying an additional 36,532 shares during the last quarter. Hedge funds and other institutional investors own 97.19% of the company’s stock.

Insider Transactions at FARO Technologies

In related news, VP Jeffrey D. Sexton sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $20.06, for a total value of $30,090.00. Following the completion of the sale, the vice president now owns 27,706 shares in the company, valued at $555,782.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $27.00 target price on shares of FARO Technologies in a report on Thursday, February 29th.

FARO Technologies Stock Performance

Shares of FARO stock opened at $18.92 on Monday. The company has a current ratio of 2.31, a quick ratio of 2.00 and a debt-to-equity ratio of 0.27. The stock has a 50 day simple moving average of $20.66 and a 200-day simple moving average of $19.74. The company has a market cap of $358.89 million, a price-to-earnings ratio of -6.33 and a beta of 1.40. FARO Technologies, Inc. has a 12-month low of $10.30 and a 12-month high of $24.80.

FARO Technologies (NASDAQ:FARO) last announced its quarterly earnings data on Tuesday, February 27th. The scientific and technical instruments company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.31. FARO Technologies had a negative return on equity of 20.66% and a negative net margin of 15.77%. The firm had revenue of $98.84 million for the quarter.

FARO Technologies 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.