Envela Co. (NYSEAMERICAN:ELA) Short Interest Update

Envela Co. (NYSEAMERICAN:ELA) was the target of a large decline in short interest in January. As of January 31st, there was short interest totalling 109,600 shares, a decline of 5.9% from the January 15th total of 116,500 shares. Currently, 1.7% of the shares of the company are sold short. Based on an average daily trading volume, of 21,800 shares, the short-interest ratio is presently 5.0 days.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital lifted 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.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ELA. Barclays PLC grew its position in Envela by 113.7% in the third quarter. Barclays PLC now owns 5,025 shares of the company’s stock worth $28,000 after acquiring an additional 2,674 shares in the last quarter. US Bancorp DE purchased a new position in Envela in the third quarter worth $339,000. Millennium Management LLC grew its position in Envela by 4.2% in the fourth quarter. Millennium Management LLC now owns 55,907 shares of the company’s stock worth $401,000 after acquiring an additional 2,253 shares in the last quarter. Jane Street Group LLC grew its position in Envela by 72.8% in the fourth quarter. Jane Street Group LLC now owns 30,343 shares of the company’s stock worth $218,000 after acquiring an additional 12,783 shares in the last quarter. Finally, Northern Trust Corp grew its position in Envela by 67.1% in the fourth quarter. Northern Trust Corp now owns 49,320 shares of the company’s stock worth $354,000 after acquiring an additional 19,799 shares in the last quarter. 8.15% of the stock is currently owned by hedge funds and other institutional investors.

Envela Stock Performance

ELA opened at $6.77 on Thursday. The firm has a market cap of $176.02 million, a PE ratio of 28.21 and a beta of 0.35. The company has a quick ratio of 2.08, a current ratio of 4.76 and a debt-to-equity ratio of 0.25. Envela has a one year low of $4.20 and a one year high of $7.88.

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.