Envela (NYSEAMERICAN:ELA) Shares Cross Above 200-Day Moving Average – Should You Sell?

by · The Markets Daily

Shares of Envela Corporation (NYSEAMERICAN:ELA – Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.97 and traded as high as $14.57. Envela shares last traded at $14.46, with a volume of 110,525 shares.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ELA. Lake Street Capital restated a “buy” rating and issued a $12.00 target price on shares of Envela in a research report on Thursday, November 6th. B. Riley reissued a “buy” rating and issued a $14.00 price objective (up from $11.00) on shares of Envela in a research note on Monday, November 10th. Finally, Zacks Research raised shares of Envela from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat.com, Envela has an average rating of “Buy” and an average price target of $13.00.

Check Out Our Latest Report on Envela

Envela Price Performance

The company has a debt-to-equity ratio of 0.16, a current ratio of 5.19 and a quick ratio of 2.65. The stock has a 50 day simple moving average of $12.37 and a two-hundred day simple moving average of $9.05. The company has a market cap of $367.59 million, a price-to-earnings ratio of 35.40 and a beta of 0.19.

Envela (NYSEAMERICAN:ELA – Get Free Report) last issued its earnings results on Wednesday, November 5th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. The business had revenue of $57.39 million during the quarter, compared to the consensus estimate of $48.99 million. Envela had a return on equity of 18.01% and a net margin of 4.89%. On average, equities research analysts predict that Envela Corporation will post 0.24 earnings per share for the current fiscal year.

Institutional Trading of Envela

Hedge funds have recently made changes to their positions in the company. Tradewinds Capital Management LLC purchased a new stake in shares of Envela during the 4th quarter valued at approximately $36,000. Vanguard Group Inc. lifted its stake in shares of Envela by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 455,034 shares of the company’s stock valued at $3,554,000 after purchasing an additional 2,737 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Envela by 8.9% during the 2nd quarter. Bank of America Corp DE now owns 43,906 shares of the company’s stock worth $269,000 after purchasing an additional 3,583 shares during the period. Jane Street Group LLC grew its holdings in shares of Envela by 12.1% during the 1st quarter. Jane Street Group LLC now owns 34,024 shares of the company’s stock worth $212,000 after purchasing an additional 3,681 shares during the period. Finally, Citadel Advisors LLC increased its position in shares of Envela by 69.8% during the 3rd quarter. Citadel Advisors LLC now owns 19,113 shares of the company’s stock worth $149,000 after purchasing an additional 7,860 shares during the last quarter. Hedge funds and other institutional investors own 8.15% of the company’s stock.

About Envela

(Get Free Report)

Envela Corporation is a technology-enabled asset recovery and monetization company that specializes in the acquisition, refurbishment and resale of pre-owned consumer electronics and jewelry, as well as the manufacture and distribution of industrial diamonds. Through its integrated platform, the company sources assets from individuals, retailers and corporate clients, employing proprietary software and physical channel operations to optimize value recovery across multiple product categories.

Originally founded as American Jewelry Liquidators, the business rebranded as Envela in 2018 to reflect its broader strategic focus beyond jewelry.

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