FARO Technologies, Inc. (FARO) Position Decreased by Two Sigma Investments LP

Two Sigma Investments LP cut its position in FARO Technologies, Inc. (NASDAQ:FARO) by 74.9% during the fourth quarter, Holdings Channel reports. The fund owned 24,667 shares of the company’s stock after selling 73,719 shares during the period. Two Sigma Investments LP’s holdings in FARO Technologies were worth $888,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Trent Capital Management Inc. NC acquired a new position in shares of FARO Technologies during the fourth quarter worth approximately $131,000. Municipal Employees Retirement System of Michigan boosted its position in shares of FARO Technologies by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,690 shares of the company’s stock worth $133,000 after buying an additional 60 shares during the last quarter. Acrospire Investment Management LLC boosted its position in shares of FARO Technologies by 80.3% in the third quarter. Acrospire Investment Management LLC now owns 3,704 shares of the company’s stock worth $133,000 after buying an additional 1,650 shares during the last quarter. ARK Investment Management LLC acquired a new position in shares of FARO Technologies during the fourth quarter worth approximately $158,000. Finally, Bank of Montreal Can boosted its position in shares of FARO Technologies by 40,169.2% in the third quarter. Bank of Montreal Can now owns 5,235 shares of the company’s stock worth $188,000 after buying an additional 5,222 shares during the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for FARO Technologies (NASDAQ:FARO)

FARO Technologies, Inc. (NASDAQ:FARO) opened at 34.20 on Monday. The stock has a market capitalization of $570.46 million, a PE ratio of 51.27 and a beta of 1.43. FARO Technologies, Inc. has a 52 week low of $27.87 and a 52 week high of $40.15. The firm has a 50 day moving average of $35.84 and a 200-day moving average of $35.86.

FARO Technologies (NASDAQ:FARO) last posted its earnings results on Wednesday, February 22nd. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by $0.14. FARO Technologies had a net margin of 5.06% and a return on equity of 5.45%. The firm earned $91.70 million during the quarter, compared to analyst estimates of $93.76 million. During the same quarter in the prior year, the firm earned $0.60 earnings per share. The business’s revenue for the quarter was up .4% on a year-over-year basis. On average, equities analysts predict that FARO Technologies, Inc. will post $0.87 EPS for the current year.

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A number of brokerages have commented on FARO. Needham & Company LLC reissued a “buy” rating and issued a $38.00 price objective (up from $35.00) on shares of FARO Technologies in a research note on Friday, February 24th. Zacks Investment Research cut shares of FARO Technologies from a “hold” rating to a “sell” rating in a research note on Friday, February 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. FARO Technologies has an average rating of “Hold” and an average price target of $37.20.

About FARO Technologies

FARO Technologies, Inc designs, develops, manufactures, markets and supports software driven, three-dimensional (3-D) measurement, imaging and realization systems. The Company operates in three segments: Americas, Europe/Africa and Asia-Pacific. The Company sells its products through a direct sales force across a number of customers in a range of manufacturing, industrial, architecture, surveying, building construction and law enforcement applications.

5 Day Chart for NASDAQ:FARO

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