Invenomic Capital Management LP Purchases 74,631 Shares of FARO Technologies, Inc. (NASDAQ:FARO)

Invenomic Capital Management LP lifted its position in FARO Technologies, Inc. (NASDAQ:FARO) by 23.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 396,830 shares of the scientific and technical instruments company’s stock after acquiring an additional 74,631 shares during the period. Invenomic Capital Management LP’s holdings in FARO Technologies were worth $7,595,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Divisar Capital Management LLC raised its holdings in shares of FARO Technologies by 5.1% during 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 purchasing an additional 90,000 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of FARO Technologies by 4.2% during the first quarter. Vanguard Group Inc. now owns 1,589,519 shares of the scientific and technical instruments company’s stock valued at $34,191,000 after purchasing an additional 64,095 shares during the last quarter. Royce & Associates LP raised its holdings in shares of FARO Technologies by 20.0% during the third quarter. Royce & Associates LP now owns 1,409,031 shares of the scientific and technical instruments company’s stock valued at $26,969,000 after purchasing an additional 234,650 shares during the last quarter. Harvey Partners LLC raised its holdings in shares of FARO Technologies by 17.8% during the third quarter. Harvey Partners LLC now owns 1,006,000 shares of the scientific and technical instruments company’s stock valued at $19,255,000 after purchasing an additional 152,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of FARO Technologies by 10.8% during the second quarter. Dimensional Fund Advisors LP now owns 604,432 shares of the scientific and technical instruments company’s stock valued at $9,671,000 after purchasing an additional 59,142 shares during the last quarter. Institutional investors own 97.19% of the company’s stock.

FARO Technologies Price Performance

Shares of NASDAQ FARO opened at $26.57 on Tuesday. The firm has a fifty day moving average price of $21.12 and a 200-day moving average price of $18.47. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.17 and a quick ratio of 1.83. FARO Technologies, Inc. has a 1 year low of $13.52 and a 1 year high of $28.04.

Insider Transactions at FARO Technologies

In related news, CEO Peter James Lau sold 5,435 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $16.67, for a total transaction of $90,601.45. Following the completion of the transaction, the chief executive officer now owns 133,975 shares in the company, valued at approximately $2,233,363.25. This represents a 3.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.