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

Envela Co. (NYSEAMERICAN:ELA) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.00 and traded as high as $7.30. Envela shares last traded at $7.15, with a volume of 9,477 shares changing hands.

Analyst Ratings Changes

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

Envela Trading Down 1.4 %

The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.08 and a current ratio of 4.76. The firm has a market cap of $185.90 million, a PE ratio of 29.79 and a beta of 0.31.

Envela (NYSEAMERICAN:ELA) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. Envela had a return on equity of 13.01% and a net margin of 3.83%. The business had revenue of $46.90 million during the quarter, compared to analysts’ expectations of $39.85 million. As a group, sell-side analysts predict that Envela Co. will post 0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Envela

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

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.