Harvey Partners LLC Grows Position in FARO Technologies, Inc. (NASDAQ:FARO)

Harvey Partners LLC increased its holdings in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 17.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,006,000 shares of the scientific and technical instruments company’s stock after acquiring an additional 152,000 shares during the quarter. FARO Technologies makes up approximately 2.2% of Harvey Partners LLC’s holdings, making the stock its 20th biggest holding. Harvey Partners LLC owned 5.32% of FARO Technologies worth $19,255,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FARO. Vanguard Group Inc. raised its holdings in FARO Technologies by 4.2% in 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 acquiring an additional 64,095 shares during the period. Divisar Capital Management LLC grew its stake in shares of FARO Technologies by 5.1% in the second quarter. Divisar Capital Management LLC now owns 1,838,777 shares of the scientific and technical instruments company’s stock valued at $29,420,000 after buying an additional 90,000 shares in the last quarter. Acadian Asset Management LLC grew its holdings in FARO Technologies by 23.5% in the 2nd quarter. Acadian Asset Management LLC now owns 209,787 shares of the scientific and technical instruments company’s stock valued at $3,354,000 after buying an additional 39,905 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of FARO Technologies by 20.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 339,506 shares of the scientific and technical instruments company’s stock valued at $5,432,000 after purchasing an additional 57,493 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of FARO Technologies by 32.2% during the second quarter. Renaissance Technologies LLC now owns 225,307 shares of the scientific and technical instruments company’s stock worth $3,605,000 after purchasing an additional 54,865 shares during the period. Institutional investors own 97.19% of the company’s stock.

Insider Buying and Selling at FARO Technologies

In other FARO Technologies news, CEO Peter James Lau sold 5,435 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $16.67, for a total value of $90,601.45. Following the transaction, the chief executive officer now directly owns 133,975 shares of the company’s stock, valued at approximately $2,233,363.25. This trade represents a 3.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.10% of the company’s stock.

FARO Technologies Price Performance

Shares of NASDAQ FARO opened at $26.57 on Tuesday. The business has a fifty day moving average of $21.12 and a two-hundred day moving average of $18.47. FARO Technologies, Inc. has a 52-week low of $13.52 and a 52-week high of $28.04. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.17 and a quick ratio of 1.83.

Analyst Ratings Changes

Several brokerages have recently weighed in on FARO. StockNews.com upgraded FARO Technologies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Needham & Company LLC boosted their price target on FARO Technologies from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Craig Hallum lifted their price objective on FARO Technologies from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, November 7th.

About FARO Technologies

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.