Renaissance Technologies LLC Sells 26,200 Shares of FARO Technologies, Inc. (NASDAQ:FARO)

Renaissance Technologies LLC lowered its stake in FARO Technologies, Inc. (NASDAQ:FARO) by 9.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 244,200 shares of the scientific and technical instruments company’s stock after selling 26,200 shares during the period. Renaissance Technologies LLC owned approximately 1.46% of FARO Technologies worth $8,730,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in FARO. Comerica Bank increased its stake in shares of FARO Technologies by 5.2% in the fourth quarter. Comerica Bank now owns 17,755 shares of the scientific and technical instruments company’s stock valued at $681,000 after buying an additional 871 shares in the last quarter. State Street Corp increased its stake in shares of FARO Technologies by 7.8% in the fourth quarter. State Street Corp now owns 367,377 shares of the scientific and technical instruments company’s stock valued at $13,226,000 after buying an additional 26,427 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of FARO Technologies by 9.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 891,023 shares of the scientific and technical instruments company’s stock valued at $32,077,000 after buying an additional 79,341 shares in the last quarter. Thrivent Financial for Lutherans increased its position in FARO Technologies by 7.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 9,010 shares of the scientific and technical instruments company’s stock valued at $324,000 after buying an additional 610 shares in the last quarter. Finally, Norges Bank purchased a new position in FARO Technologies during the fourth quarter valued at approximately $13,371,000. Institutional investors and hedge funds own 92.76% of the company’s stock.

Shares of FARO Technologies, Inc. (NASDAQ FARO) traded up 1.07% during trading on Friday, hitting $32.95. The stock had a trading volume of 92,871 shares. The company’s market capitalization is $550.53 million. The firm has a 50-day moving average price of $37.11 and a 200 day moving average price of $36.00. FARO Technologies, Inc. has a 52 week low of $29.00 and a 52 week high of $40.60.

FARO Technologies (NASDAQ:FARO) last posted its quarterly earnings data on Tuesday, August 1st. The scientific and technical instruments company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by $0.34. FARO Technologies had a negative return on equity of 0.13% and a negative net margin of 0.13%. The firm had revenue of $82.68 million during the quarter, compared to analysts’ expectations of $87.65 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. FARO Technologies’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities analysts anticipate that FARO Technologies, Inc. will post ($0.13) earnings per share for the current year.

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Several equities analysts have commented on the company. Gabelli downgraded FARO Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Zacks Investment Research downgraded FARO Technologies from a “hold” rating to a “strong sell” rating in a research report on Monday, August 7th. BidaskClub downgraded FARO Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Noble Financial reiterated a “buy” rating on shares of FARO Technologies in a research report on Thursday, August 3rd. Finally, Canaccord Genuity increased their target price on FARO Technologies from $38.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. FARO Technologies currently has an average rating of “Hold” and a consensus price target of $40.60.

FARO Technologies Company Profile

FARO Technologies, Inc designs, develops, manufactures, markets and supports software driven, three-dimensional (3D) measurement, imaging and realization systems. The Company operates in three segments: Factory Metrology, Construction BIM-CIM and Other. It sells its products through a direct sales force across customers in a range of manufacturing, industrial, architecture, surveying, building construction and law enforcement applications.