Envela (NYSEAMERICAN:ELA) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Envela Co. (NYSEAMERICAN:ELA) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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.

Wall Street Analyst Weigh In

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

Envela Stock Down 1.4 %

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 capitalization of $185.90 million, a PE ratio of 29.79 and a beta of 0.31.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ELA. US Bancorp DE purchased a new stake in shares of Envela in the third quarter worth $339,000. Renaissance Technologies LLC boosted 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 buying an additional 20,624 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Envela in the 2nd quarter worth $50,000. Cubist Systematic Strategies LLC purchased a new stake in Envela in the 2nd quarter worth $42,000. Finally, Barclays PLC raised its holdings in Envela by 113.7% during the third quarter. Barclays PLC now owns 5,025 shares of the company’s stock valued at $28,000 after acquiring an additional 2,674 shares during the period. Institutional investors own 8.15% of the company’s stock.

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.