Envela (NYSEAMERICAN:ELA) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Envela Co. (NYSEAMERICAN:ELA) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.00 and traded as high as $7.69. Envela shares last traded at $7.56, with a volume of 19,838 shares traded.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital boosted their price target on shares of Envela from $6.00 to $7.00 and gave the company a “buy” rating in a report on Wednesday, November 6th.

Envela Stock Up 0.8 %

The stock has a market capitalization of $196.56 million, a P/E ratio of 31.50 and a beta of 0.31. The company has a current ratio of 4.76, a quick ratio of 2.08 and a debt-to-equity ratio of 0.25.

Envela (NYSEAMERICAN:ELA) last posted its earnings results on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.03 by $0.03. Envela had a return on equity of 13.01% and a net margin of 3.83%. The firm had revenue of $46.90 million for the quarter, compared to analysts’ expectations of $39.85 million. On average, sell-side analysts forecast that Envela Co. will post 0.24 earnings per share for the current year.

Institutional Investors Weigh In On Envela

A number of institutional investors have recently added to or reduced their stakes in the company. Barclays PLC raised its holdings in shares of Envela by 113.7% in the 3rd quarter. Barclays PLC now owns 5,025 shares of the company’s stock worth $28,000 after purchasing an additional 2,674 shares in the last quarter. US Bancorp DE bought a new position in shares of Envela in the third quarter valued at $339,000. Cubist Systematic Strategies LLC bought a new position in shares of Envela in the second quarter valued at $42,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Envela during the 2nd quarter valued at $50,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Envela by 11.8% during the 2nd quarter. Renaissance Technologies LLC now owns 195,428 shares of the company’s stock worth $877,000 after acquiring an additional 20,624 shares in the last quarter. 8.15% of the stock is currently owned by institutional investors and hedge funds.

Envela Company Profile

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.