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

Envela Corporation (NYSEAMERICAN:ELA) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $10.05 and traded as high as $13.19. Envela shares last traded at $12.85, with a volume of 46,010 shares.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Zacks Research lowered Envela from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Lake Street Capital reissued a “buy” rating and set a $12.00 price objective on shares of Envela in a report on Thursday, November 6th. Finally, B. Riley Financial restated a “buy” rating and issued a $14.00 target price (up previously from $11.00) on shares of Envela in a report on Monday, November 10th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $13.00.

Envela Price Performance

The company has a quick ratio of 2.65, a current ratio of 5.19 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $333.59 million, a price-to-earnings ratio of 32.13 and a beta of 0.23. The company has a fifty day moving average price of $13.20 and a two-hundred day moving average price of $10.05.

Institutional Investors Weigh In On Envela

Several hedge funds have recently made changes to their positions in the business. Hillsdale Investment Management Inc. acquired a new stake in Envela during the 2nd quarter worth approximately $71,000. Millennium Management LLC lifted its holdings in shares of Envela by 58.9% during the third 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 period. Citadel Advisors LLC grew its position in Envela by 69.8% in the 3rd quarter. Citadel Advisors LLC now owns 19,113 shares of the company’s stock valued at $149,000 after buying an additional 7,860 shares during the last quarter. Bank of America Corp DE increased its stake in Envela by 10.5% in the 3rd quarter. Bank of America Corp DE now owns 48,507 shares of the company’s stock valued at $379,000 after buying an additional 4,601 shares during the period. Finally, Bridgeway Capital Management LLC raised its position in Envela by 16.4% during the 3rd quarter. Bridgeway Capital Management LLC now owns 106,700 shares of the company’s stock worth $833,000 after buying an additional 15,000 shares during the last quarter. Institutional investors and hedge funds 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.