Jane Street Group LLC Lowers Stake in FARO Technologies, Inc. (NASDAQ:FARO)

Jane Street Group LLC lowered its stake in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 58.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 25,279 shares of the scientific and technical instruments company’s stock after selling 35,068 shares during the period. Jane Street Group LLC’s holdings in FARO Technologies were worth $484,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in FARO. Bank of New York Mellon Corp raised its position in FARO Technologies by 5.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 76,337 shares of the scientific and technical instruments company’s stock worth $1,221,000 after purchasing an additional 4,174 shares during the period. Acadian Asset Management LLC lifted its stake in 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 purchasing an additional 39,905 shares during the last quarter. American Century Companies Inc. lifted its stake in FARO Technologies by 16.7% in the second quarter. American Century Companies Inc. now owns 20,903 shares of the scientific and technical instruments company’s stock worth $334,000 after purchasing an additional 2,993 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in FARO Technologies by 10.8% in the second quarter. Dimensional Fund Advisors LP now owns 604,432 shares of the scientific and technical instruments company’s stock worth $9,671,000 after purchasing an additional 59,142 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in 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 purchasing an additional 54,865 shares during the last quarter. Hedge funds and other institutional investors own 97.19% of the company’s stock.

Analyst Upgrades and Downgrades

FARO has been the subject of several recent research reports. StockNews.com raised shares of FARO Technologies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Needham & Company LLC boosted their price target on shares of FARO Technologies from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Craig Hallum boosted their price target on shares of FARO Technologies from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th.

FARO Technologies Price Performance

FARO stock opened at $26.54 on Tuesday. The firm’s 50-day moving average price is $25.24 and its two-hundred day moving average price is $19.96. FARO Technologies, Inc. has a 12-month low of $13.52 and a 12-month high of $29.30. The stock has a market capitalization of $502.06 million, a price-to-earnings ratio of -75.83 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.

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.