FARO Technologies, Inc. (NASDAQ:FARO) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its position in FARO Technologies, Inc. (NASDAQ:FARO) by 77.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,139 shares of the scientific and technical instruments company’s stock after selling 228,342 shares during the quarter. Assenagon Asset Management S.A. owned about 0.35% of FARO Technologies worth $1,833,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Quarry LP acquired a new position in shares of FARO Technologies in the 4th quarter worth approximately $25,000. National Bank of Canada FI bought a new stake in FARO Technologies during the fourth quarter worth approximately $55,000. Lazard Asset Management LLC acquired a new position in FARO Technologies in the fourth quarter worth approximately $78,000. Covestor Ltd acquired a new position in FARO Technologies in the fourth quarter worth approximately $111,000. Finally, Aquatic Capital Management LLC bought a new position in shares of FARO Technologies in the fourth quarter valued at $155,000. Institutional investors and hedge funds own 97.19% of the company’s stock.

Analyst Upgrades and Downgrades

FARO has been the subject of several analyst reports. Wall Street Zen initiated coverage on FARO Technologies in a report on Friday, May 16th. They set a “buy” rating for the company. Craig Hallum downgraded FARO Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, May 6th. Finally, Needham & Company LLC lowered shares of FARO Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, May 7th.

FARO Technologies Stock Down 0.1%

FARO stock opened at $43.78 on Wednesday. The company has a 50 day moving average of $36.65 and a two-hundred day moving average of $31.15. The company has a market cap of $845.83 million, a price-to-earnings ratio of -875.60 and a beta of 1.63. FARO Technologies, Inc. has a 12-month low of $13.52 and a 12-month high of $43.90. The company has a quick ratio of 2.01, a current ratio of 2.31 and a debt-to-equity ratio of 0.27.

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.