Envela (NYSEAMERICAN:ELA) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Envela Corporation (NYSEAMERICAN:ELA) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.42 and traded as high as $12.74. Envela shares last traded at $12.50, with a volume of 115,359 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have recently commented on ELA. Zacks Research lowered shares of Envela from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Lake Street Capital restated a “buy” rating and issued a $12.00 target price on shares of Envela in a research report on Thursday, November 6th. Finally, B. Riley restated a “buy” rating and issued a $14.00 price target (up previously from $11.00) on shares of Envela in a research note on Monday, November 10th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.00.

Envela Stock Up 8.1%

The firm’s fifty day moving average is $9.23 and its two-hundred day moving average is $7.42. The firm has a market cap of $324.50 million, a price-to-earnings ratio of 31.25 and a beta of 0.23. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.19 and a quick ratio of 2.65.

Envela (NYSEAMERICAN:ELA) last released its earnings results on Wednesday, November 5th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.06 by $0.07. The firm had revenue of $57.39 million for the quarter, compared to analysts’ expectations of $48.99 million. Envela had a net margin of 4.89% and a return on equity of 18.01%. On average, sell-side analysts expect that Envela Corporation will post 0.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Envela

A number of institutional investors have recently added to or reduced their stakes in ELA. Mink Brook Asset Management LLC increased its position in shares of Envela by 13.7% during the 1st quarter. Mink Brook Asset Management LLC now owns 1,299,523 shares of the company’s stock valued at $8,096,000 after purchasing an additional 156,754 shares during the period. Ancora Advisors LLC boosted its stake in Envela by 32.1% during the first quarter. Ancora Advisors LLC now owns 44,923 shares of the company’s stock valued at $280,000 after buying an additional 10,923 shares in the last quarter. NewEdge Advisors LLC grew its holdings in Envela by 1,015.6% during the first quarter. NewEdge Advisors LLC now owns 10,989 shares of the company’s stock worth $68,000 after acquiring an additional 10,004 shares during the period. Goldman Sachs Group Inc. grew its holdings in Envela by 82.4% during the first quarter. Goldman Sachs Group Inc. now owns 30,334 shares of the company’s stock worth $189,000 after acquiring an additional 13,699 shares during the period. Finally, Jane Street Group LLC raised its position in Envela by 12.1% in the first quarter. Jane Street Group LLC now owns 34,024 shares of the company’s stock worth $212,000 after acquiring an additional 3,681 shares in the last quarter. 8.15% of the stock is currently owned by institutional investors and hedge funds.

About Envela

Envela Corporation, together with its subsidiaries, operates in the re-commerce sector in the United States. The company operates through two segments, Commercial-Services and Direct-To-Consumer. It provides end-of-life asset recycling; data destruction and IT asset management; and products, services, and solutions to industrial and commercial companies, as well as operates as a re-commerce retailers of luxury hard assets.