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

Shares of Envela Corporation (NYSEAMERICAN:ELA) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $18.10 and traded as high as $23.98. Envela shares last traded at $22.68, with a volume of 106,900 shares traded.

Analyst Ratings Changes

A number of analysts recently commented on ELA shares. Lake Street Capital reaffirmed a “buy” rating and issued a $27.00 price target on shares of Envela in a research note on Thursday, May 7th. B. Riley Financial boosted their price objective on shares of Envela from $14.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, March 19th. Finally, Zacks Research upgraded shares of Envela from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $22.50.

Envela Price Performance

The company has a current ratio of 3.52, a quick ratio of 1.97 and a debt-to-equity ratio of 0.03. The company has a market cap of $586.70 million, a PE ratio of 27.90 and a beta of 0.37. The firm has a 50 day moving average of $24.85 and a two-hundred day moving average of $18.14.

Envela (NYSEAMERICAN:ELA) last released its earnings results on Wednesday, May 6th. The company reported $0.34 EPS for the quarter, hitting the consensus estimate of $0.34. Envela had a return on equity of 32.00% and a net margin of 7.19%.The business had revenue of $98.38 million for the quarter, compared to the consensus estimate of $98.39 million. Research analysts predict that Envela Corporation will post 0.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Envela

A number of hedge funds have recently added to or reduced their stakes in ELA. Allspring Global Investments Holdings LLC raised its stake in shares of Envela by 1,213.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 185,382 shares of the company’s stock worth $2,480,000 after purchasing an additional 171,268 shares during the last quarter. Leo Wealth LLC bought a new position in shares of Envela during the fourth quarter valued at $309,000. Tradewinds Capital Management LLC purchased a new stake in shares of Envela during the fourth quarter valued at $36,000. Arrowstreet Capital Limited Partnership increased its holdings in Envela by 20.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 164,980 shares of the company’s stock worth $2,749,000 after buying an additional 28,049 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in Envela by 100.0% in the 1st quarter. Sei Investments Co. now owns 118,342 shares of the company’s stock worth $1,972,000 after buying an additional 59,171 shares in the last quarter. 8.15% of the stock is currently owned by hedge funds and other institutional investors.

Envela Company Profile

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.