Bailard Inc. Makes New $256,000 Investment in FARO Technologies, Inc. (NASDAQ:FARO)

Bailard Inc. acquired a new stake in shares of FARO Technologies, Inc. (NASDAQ:FARO) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,378 shares of the scientific and technical instruments company’s stock, valued at approximately $256,000. Bailard Inc. owned about 0.06% of FARO Technologies at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Signaturefd LLC purchased a new stake in FARO Technologies during the 4th quarter valued at about $292,000. Nisa Investment Advisors LLC boosted its position in FARO Technologies by 16.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,420 shares of the scientific and technical instruments company’s stock valued at $145,000 after buying an additional 900 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in FARO Technologies by 1.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 257,109 shares of the scientific and technical instruments company’s stock worth $5,793,000 after buying an additional 4,610 shares during the period. Pinnacle Associates Ltd. raised its position in FARO Technologies by 64.6% during the 4th quarter. Pinnacle Associates Ltd. now owns 493,724 shares of the scientific and technical instruments company’s stock worth $11,124,000 after buying an additional 193,757 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in FARO Technologies by 19.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 182,023 shares of the scientific and technical instruments company’s stock worth $4,101,000 after buying an additional 29,279 shares during the last quarter. 97.19% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at FARO Technologies

In related news, VP Jeffrey D. Sexton sold 1,500 shares of FARO Technologies stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $20.06, for a total value of $30,090.00. Following the completion of the transaction, the vice president now owns 27,706 shares in the company, valued at approximately $555,782.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Separately, Needham & Company LLC reiterated a “buy” rating and issued a $27.00 price objective on shares of FARO Technologies in a research note on Thursday, February 29th.

FARO Technologies Stock Performance

Shares of FARO stock opened at $18.92 on Monday. The stock has a market cap of $358.89 million, a PE ratio of -6.33 and a beta of 1.40. FARO Technologies, Inc. has a 52-week low of $10.30 and a 52-week high of $24.80. The business has a 50-day simple moving average of $20.66 and a 200-day simple moving average of $19.74. The company has a quick ratio of 2.00, a current ratio of 2.31 and a debt-to-equity ratio of 0.27.

FARO Technologies (NASDAQ:FARO) last announced its quarterly earnings results on Tuesday, February 27th. The scientific and technical instruments company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.31. FARO Technologies had a negative return on equity of 20.66% and a negative net margin of 15.77%. The company had revenue of $98.84 million during the quarter.

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.