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

Envela Co. (NYSEAMERICAN:ELA) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.00 and traded as high as $7.46. Envela shares last traded at $7.41, with a volume of 23,833 shares traded.

Wall Street Analysts Forecast Growth

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

Envela Price Performance

The company has a debt-to-equity ratio of 0.25, a current ratio of 4.76 and a quick ratio of 2.08. The stock has a market cap of $192.66 million, a P/E ratio of 30.88 and a beta of 0.31.

Envela (NYSEAMERICAN:ELA) last announced 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 net margin of 3.83% and a return on equity of 13.01%. The company had revenue of $46.90 million during the quarter, compared to the consensus estimate of $39.85 million. As a group, equities analysts anticipate that Envela Co. will post 0.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Envela

Hedge funds have recently made changes to their positions in the business. 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 during the period. Cubist Systematic Strategies LLC purchased a new position in shares of Envela during the 2nd quarter valued at $42,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Envela during the 2nd quarter worth $50,000. Renaissance Technologies LLC increased its holdings in Envela by 11.8% in 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 during the last quarter. Finally, US Bancorp DE bought a new stake in Envela in the 3rd quarter valued at about $339,000. 8.15% of the stock is currently owned by institutional investors.

About Envela

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.