Tectonic Advisors LLC Invests $536,000 in FARO Technologies, Inc. (NASDAQ:FARO)

Tectonic Advisors LLC purchased a new stake in FARO Technologies, Inc. (NASDAQ:FARO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 21,143 shares of the scientific and technical instruments company’s stock, valued at approximately $536,000. Tectonic Advisors LLC owned 0.11% of FARO Technologies as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of FARO. Royce & Associates LP raised its holdings in FARO Technologies by 20.0% during the 3rd quarter. Royce & Associates LP now owns 1,409,031 shares of the scientific and technical instruments company’s stock valued at $26,969,000 after acquiring an additional 234,650 shares during the period. Needham Investment Management LLC grew its position in shares of FARO Technologies by 20.0% in the third quarter. Needham Investment Management LLC now owns 1,029,250 shares of the scientific and technical instruments company’s stock valued at $19,700,000 after purchasing an additional 171,300 shares in the last quarter. Harvey Partners LLC raised its stake in shares of FARO Technologies by 17.8% during the 3rd quarter. Harvey Partners LLC now owns 1,006,000 shares of the scientific and technical instruments company’s stock valued at $19,255,000 after purchasing an additional 152,000 shares during the period. Hodges Capital Management Inc. purchased a new stake in FARO Technologies during the 4th quarter worth about $3,144,000. Finally, Invenomic Capital Management LP lifted its holdings in FARO Technologies by 23.2% during the 3rd quarter. Invenomic Capital Management LP now owns 396,830 shares of the scientific and technical instruments company’s stock worth $7,595,000 after purchasing an additional 74,631 shares in the last quarter. 97.19% of the stock is currently owned by hedge funds and other institutional investors.

FARO Technologies Price Performance

FARO Technologies stock opened at $31.58 on Thursday. The business has a 50-day simple moving average of $27.90 and a 200 day simple moving average of $21.96. FARO Technologies, Inc. has a 52 week low of $13.52 and a 52 week high of $32.90. The stock has a market cap of $597.49 million, a price-to-earnings ratio of -90.23 and a beta of 1.40. The company has a quick ratio of 1.83, a current ratio of 2.17 and a debt-to-equity ratio of 0.27.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FARO. StockNews.com raised FARO Technologies from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Craig Hallum boosted their price objective on shares of FARO Technologies from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, Needham & Company LLC increased their target price on shares of FARO Technologies from $26.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th.

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.