Sevcon, Inc. (SEV) Shares Bought by Rathbone Brothers plc
Rathbone Brothers plc boosted its holdings in Sevcon, Inc. (NASDAQ:SEV) by 22.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 129,621 shares of the company’s stock after buying an additional 24,000 shares during the quarter. Rathbone Brothers plc owned approximately 2.42% of Sevcon worth $1,737,000 at the end of the most recent reporting period.
Separately, ARS Investment Partners LLC boosted its stake in shares of Sevcon by 161.7% during the second quarter. ARS Investment Partners LLC now owns 64,550 shares of the company’s stock valued at $865,000 after purchasing an additional 39,887 shares in the last quarter. 41.99% of the stock is owned by institutional investors and hedge funds.
Shares of Sevcon, Inc. (NASDAQ SEV) opened at 22.00 on Friday. The stock’s 50 day moving average price is $21.91 and its 200-day moving average price is $16.31. The firm’s market capitalization is $118.23 million. Sevcon, Inc. has a 52 week low of $8.10 and a 52 week high of $22.11.
SEV has been the topic of a number of recent research reports. Craig Hallum lowered Sevcon from a “buy” rating to a “hold” rating and set a $22.00 price target on the stock. in a research note on Monday, July 17th. Canaccord Genuity reissued a “buy” rating on shares of Sevcon in a research note on Monday.
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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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