Range Financial Group LLC Increases Holdings in FARO Technologies, Inc. (NASDAQ:FARO)

Range Financial Group LLC lifted its position in FARO Technologies, Inc. (NASDAQ:FARO) by 123.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,004 shares of the scientific and technical instruments company’s stock after purchasing an additional 18,248 shares during the period. Range Financial Group LLC owned 0.17% of FARO Technologies worth $901,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Millennium Management LLC boosted its holdings in shares of FARO Technologies by 0.8% in the fourth quarter. Millennium Management LLC now owns 54,069 shares of the scientific and technical instruments company’s stock valued at $1,371,000 after purchasing an additional 439 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of FARO Technologies in the fourth quarter valued at approximately $78,000. Rhumbline Advisers boosted its holdings in shares of FARO Technologies by 4.5% in the fourth quarter. Rhumbline Advisers now owns 31,279 shares of the scientific and technical instruments company’s stock valued at $793,000 after purchasing an additional 1,333 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of FARO Technologies by 27.7% in the fourth quarter. Wells Fargo & Company MN now owns 12,307 shares of the scientific and technical instruments company’s stock valued at $312,000 after purchasing an additional 2,672 shares during the period. Finally, American Century Companies Inc. lifted its holdings in FARO Technologies by 21.8% during the fourth quarter. American Century Companies Inc. now owns 31,048 shares of the scientific and technical instruments company’s stock worth $787,000 after buying an additional 5,567 shares during the period. Hedge funds and other institutional investors own 97.19% of the company’s stock.

FARO Technologies Price Performance

FARO Technologies stock opened at $42.42 on Monday. The business has a fifty day moving average of $34.11 and a two-hundred day moving average of $30.38. The company has a quick ratio of 1.83, a current ratio of 2.17 and a debt-to-equity ratio of 0.27. The firm has a market cap of $815.57 million, a P/E ratio of -121.20 and a beta of 1.63. FARO Technologies, Inc. has a twelve month low of $13.52 and a twelve month high of $42.64.

Analysts Set New Price Targets

A number of analysts have weighed in on FARO shares. Needham & Company LLC lowered FARO Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th. Craig Hallum lowered FARO Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, May 6th. Finally, Wall Street Zen started coverage on FARO Technologies in a report on Friday, May 16th. They set a “buy” rating for the company.

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.