Sevcon, Inc. (SEV) Downgraded by Craig Hallum

Craig Hallum lowered shares of Sevcon, Inc. (NASDAQ:SEV) from a buy rating to a hold rating in a research report sent to investors on Monday, July 17th. Craig Hallum currently has $22.00 target price on the stock.

Shares of Sevcon (SEV) opened at 21.85 on Monday. Sevcon has a one year low of $8.10 and a one year high of $22.10. The company’s 50-day moving average is $18.21 and its 200-day moving average is $15.02. The company’s market capitalization is $116.83 million.

Sevcon (NASDAQ:SEV) last issued its quarterly earnings results on Tuesday, May 16th. The company reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.07. Sevcon had a negative net margin of 16.11% and a negative return on equity of 69.88%. The company had revenue of $15.67 million during the quarter.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Sevcon by 9.4% in the second quarter. Vanguard Group Inc. now owns 33,906 shares of the company’s stock worth $454,000 after buying an additional 2,924 shares in the last quarter. Rathbone Brothers plc boosted its position in shares of Sevcon by 22.7% in the second quarter. Rathbone Brothers plc now owns 129,621 shares of the company’s stock worth $1,737,000 after buying an additional 24,000 shares in the last quarter. Finally, ARS Investment Partners LLC boosted its position in shares of Sevcon by 161.7% in the second quarter. ARS Investment Partners LLC now owns 64,550 shares of the company’s stock worth $865,000 after buying an additional 39,887 shares in the last quarter. Hedge funds and other institutional investors own 41.01% of the company’s stock.

Sevcon Company Profile

Sevcon, Inc designs and sells motor controllers for zero emission electric and hybrid vehicles (EVs), under the Sevcon name. The Company’s controls are used to vary the speed and movement of vehicles to integrate specialized functions and to optimize the energy consumption of the vehicle’s power source.

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