Envela (NYSEAMERICAN:ELA) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Envela Corporation (NYSEAMERICAN:ELA) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $10.47 and traded as high as $13.36. Envela shares last traded at $13.20, with a volume of 50,170 shares traded.

Wall Street Analysts Forecast Growth

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

Envela Stock Performance

The stock has a fifty day moving average price of $13.27 and a 200 day moving average price of $10.47. The company has a current ratio of 5.19, a quick ratio of 2.65 and a debt-to-equity ratio of 0.16. The firm has a market cap of $342.67 million, a price-to-earnings ratio of 33.00 and a beta of 0.23.

Institutional Trading of Envela

A number of institutional investors and hedge funds have recently modified their holdings of the company. Topline Capital Management LLC boosted its holdings in shares of Envela by 14.2% during the 2nd quarter. Topline Capital Management LLC now owns 862,433 shares of the company’s stock worth $5,278,000 after buying an additional 107,470 shares during the period. Vanguard Group Inc. boosted its holdings in Envela by 0.6% during the third quarter. Vanguard Group Inc. now owns 455,034 shares of the company’s stock valued at $3,554,000 after acquiring an additional 2,737 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings 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 acquiring an additional 171,268 shares during the period. Geode Capital Management LLC grew its position in shares of Envela by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 149,107 shares of the company’s stock valued at $1,995,000 after purchasing an additional 5,086 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its stake in shares of Envela by 16.4% in the third quarter. Bridgeway Capital Management LLC now owns 106,700 shares of the company’s stock worth $833,000 after purchasing an additional 15,000 shares during the period. 8.15% of the stock is currently owned by institutional investors and hedge funds.

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.