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

Envela Co. (NYSEAMERICAN:ELA)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $0.00 and traded as high as $7.50. Envela shares last traded at $7.35, with a volume of 19,545 shares changing hands.

Analyst Upgrades and Downgrades

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

Envela Trading Up 2.2 %

The company has a current ratio of 4.76, a quick ratio of 2.08 and a debt-to-equity ratio of 0.25. The firm has a market cap of $191.10 million, a price-to-earnings ratio of 30.63 and a beta of 0.31.

Envela (NYSEAMERICAN:ELA) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share 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 business had revenue of $46.90 million for the quarter, compared to the consensus estimate of $39.85 million. As a group, analysts predict that Envela Co. will post 0.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Envela

Hedge funds have recently added to or reduced their stakes in the business. Barclays PLC grew its stake in shares of Envela by 113.7% during 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. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Envela during the second quarter valued at $50,000. Cubist Systematic Strategies LLC purchased a new position in Envela in the second quarter valued at $42,000. US Bancorp DE acquired a new position in shares of Envela in the third quarter worth about $339,000. 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 owned by hedge funds and other 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.