Polar Asset Management Partners Inc. Increases Stock Position in FARO Technologies, Inc. (NASDAQ:FARO)

Polar Asset Management Partners Inc. increased its position in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 0.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 676,796 shares of the scientific and technical instruments company’s stock after buying an additional 2,700 shares during the period. Polar Asset Management Partners Inc. owned 3.58% of FARO Technologies worth $12,954,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in 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 worth $34,191,000 after buying an additional 64,095 shares in the last quarter. Divisar Capital Management LLC lifted 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 worth $29,420,000 after buying an additional 90,000 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of FARO Technologies by 23.5% in the second quarter. Acadian Asset Management LLC now owns 209,787 shares of the scientific and technical instruments company’s stock worth $3,354,000 after buying an additional 39,905 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of FARO Technologies by 20.4% in the second quarter. Assenagon Asset Management S.A. now owns 339,506 shares of the scientific and technical instruments company’s stock worth $5,432,000 after buying an additional 57,493 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of FARO Technologies by 32.2% in 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 buying an additional 54,865 shares in the last quarter. 97.19% of the stock is owned by hedge funds and other institutional investors.

FARO Technologies Stock Down 0.4 %

Shares of NASDAQ:FARO opened at $26.46 on Wednesday. The company has a market capitalization of $500.54 million, a PE ratio of -75.60 and a beta of 1.38. The company has a current ratio of 2.17, a quick ratio of 1.83 and a debt-to-equity ratio of 0.27. FARO Technologies, Inc. has a twelve month low of $13.52 and a twelve month high of $28.04. The firm has a 50 day simple moving average of $21.28 and a 200-day simple moving average of $18.53.

Insider Activity

In other FARO Technologies news, CEO Peter James Lau sold 5,435 shares of the business’s stock in a transaction on Friday, September 6th. The shares were 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. The trade was a 3.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

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

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.