Envela (NYSEAMERICAN:ELA) Shares Pass Above 200 Day Moving Average – Time to Sell?

Envela Corporation (NYSEAMERICAN:ELA)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $9.30 and traded as high as $14.32. Envela shares last traded at $13.67, with a volume of 108,017 shares.

Analysts Set New Price Targets

ELA has been the subject of several research reports. B. Riley reissued a “buy” rating and set a $14.00 price objective (up from $11.00) on shares of Envela in a research note on Monday, November 10th. Zacks Research raised Envela from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 6th. Finally, Lake Street Capital reiterated a “buy” rating and issued a $12.00 price target on shares of Envela in a research report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $13.00.

Envela Stock Performance

The firm’s 50 day simple moving average is $12.66 and its 200-day simple moving average is $9.30. The company has a market capitalization of $354.87 million, a price-to-earnings ratio of 34.18 and a beta of 0.19. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.65 and a current ratio of 5.19.

Envela (NYSEAMERICAN:ELA) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.07. Envela had a return on equity of 18.01% and a net margin of 4.89%.The firm had revenue of $57.39 million for the quarter, compared to analyst estimates of $48.99 million. Analysts expect that Envela Corporation will post 0.24 EPS for the current year.

Institutional Investors Weigh In On Envela

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Leo Wealth LLC purchased a new position in shares of Envela during the 4th quarter valued at $309,000. Allspring Global Investments Holdings LLC boosted its position in Envela by 1,213.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 185,382 shares of the company’s stock valued at $2,480,000 after purchasing an additional 171,268 shares during the last quarter. Tradewinds Capital Management LLC acquired a new stake in Envela during the fourth quarter valued at $36,000. NewEdge Advisors LLC grew its stake in Envela by 4,652.6% in the third quarter. NewEdge Advisors LLC now owns 15,636 shares of the company’s stock valued at $122,000 after purchasing an additional 15,307 shares in the last quarter. Finally, Millennium Management LLC increased its position in Envela by 58.9% in the 3rd quarter. Millennium Management LLC now owns 34,026 shares of the company’s stock worth $266,000 after purchasing an additional 12,614 shares during the last quarter. Hedge funds and other institutional investors own 8.15% of the company’s stock.

Envela Company Profile

Envela Corporation is a technology-enabled asset recovery and monetization company that specializes in the acquisition, refurbishment and resale of pre-owned consumer electronics and jewelry, as well as the manufacture and distribution of industrial diamonds. Through its integrated platform, the company sources assets from individuals, retailers and corporate clients, employing proprietary software and physical channel operations to optimize value recovery across multiple product categories.

Originally founded as American Jewelry Liquidators, the business rebranded as Envela in 2018 to reflect its broader strategic focus beyond jewelry.