Envela (NYSEAMERICAN:ELA) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Shares of Envela Corporation (NYSEAMERICAN:ELA) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $17.18 and traded as high as $27.08. Envela shares last traded at $26.24, with a volume of 133,461 shares trading hands.

Analysts Set New Price Targets

ELA has been the subject of several analyst reports. B. Riley Financial increased their price objective on Envela from $14.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, March 19th. Lake Street Capital reaffirmed a “buy” rating and set a $27.00 target price on shares of Envela in a research report on Thursday, May 7th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Envela presently has an average rating of “Moderate Buy” and an average price target of $22.50.

Envela Stock Performance

The company’s fifty day moving average price is $23.15 and its 200 day moving average price is $17.18. The company has a market cap of $681.19 million, a PE ratio of 32.40 and a beta of 0.40. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.52 and a quick ratio of 1.97.

Envela (NYSEAMERICAN:ELA) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.34 earnings per share for the quarter, hitting the consensus estimate of $0.34. Envela had a net margin of 7.19% and a return on equity of 32.00%. The business had revenue of $98.38 million for the quarter, compared to analysts’ expectations of $98.39 million. On average, equities research analysts predict that Envela Corporation will post 0.8 earnings per share for the current year.

Hedge Funds Weigh In On Envela

Hedge funds have recently modified their holdings of the company. Tradewinds Capital Management LLC purchased a new position in shares of Envela in the 4th quarter worth approximately $36,000. NewEdge Advisors LLC increased its position in shares of Envela by 1,015.6% during the first quarter. NewEdge Advisors LLC now owns 10,989 shares of the company’s stock valued at $68,000 after acquiring an additional 10,004 shares during the last quarter. Deutsche Bank AG increased its position in shares of Envela by 471.0% during the fourth quarter. Deutsche Bank AG now owns 6,252 shares of the company’s stock valued at $84,000 after acquiring an additional 5,157 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Envela by 78.1% during the fourth quarter. Wells Fargo & Company MN now owns 7,275 shares of the company’s stock worth $97,000 after acquiring an additional 3,191 shares during the period. Finally, New York State Common Retirement Fund bought a new stake in Envela during the second quarter worth $106,000. 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.