Trexquant Investment LP Sells 8,442 Shares of FARO Technologies, Inc. (NASDAQ:FARO)

Trexquant Investment LP lowered its stake in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 12.5% during the fourth quarter, Holdings Channel reports. The fund owned 59,026 shares of the scientific and technical instruments company’s stock after selling 8,442 shares during the period. Trexquant Investment LP’s holdings in FARO Technologies were worth $1,497,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in shares of FARO Technologies by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 450,899 shares of the scientific and technical instruments company’s stock valued at $8,633,000 after acquiring an additional 19,005 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of FARO Technologies by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 222,559 shares of the scientific and technical instruments company’s stock valued at $4,260,000 after buying an additional 10,228 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in FARO Technologies by 244.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 213,423 shares of the scientific and technical instruments company’s stock valued at $5,412,000 after purchasing an additional 151,382 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new stake in FARO Technologies during the 4th quarter valued at $3,562,000. Finally, Hodges Capital Management Inc. acquired a new stake in shares of FARO Technologies during the fourth quarter worth $3,144,000. Institutional investors own 97.19% of the company’s stock.

FARO Technologies Price Performance

Shares of FARO opened at $25.83 on Thursday. FARO Technologies, Inc. has a 52-week low of $13.52 and a 52-week high of $33.13. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.83 and a current ratio of 2.17. The business’s 50 day moving average price is $28.59 and its two-hundred day moving average price is $25.75. The firm has a market cap of $490.31 million, a PE ratio of -73.80 and a beta of 1.55.

FARO Technologies (NASDAQ:FARO) last issued its quarterly earnings results on Monday, February 24th. The scientific and technical instruments company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.10. FARO Technologies had a negative return on equity of 2.49% and a negative net margin of 1.87%. The firm had revenue of $93.54 million for the quarter, compared to analyst estimates of $91.40 million. During the same period in the previous year, the firm earned $0.36 earnings per share.

Insider Buying and Selling at FARO Technologies

In other FARO Technologies news, CEO Peter James Lau sold 4,617 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $29.30, for a total transaction of $135,278.10. Following the transaction, the chief executive officer now directly owns 160,076 shares in the company, valued at approximately $4,690,226.80. This trade represents a 2.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Yuval Wasserman sold 5,658 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $31.35, for a total value of $177,378.30. Following the transaction, the director now owns 153,512 shares in the company, valued at approximately $4,812,601.20. This trade represents a 3.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,755 shares of company stock valued at $356,020. 2.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on FARO shares. StockNews.com downgraded FARO Technologies from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 16th. Craig Hallum lifted their price objective on FARO Technologies from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, Needham & Company LLC lifted their price objective on FARO Technologies from $34.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th.

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.