Envela Co. (NYSEAMERICAN:ELA) Short Interest Up 8.7% in March

Envela Co. (NYSEAMERICAN:ELAGet Free Report) saw a significant increase in short interest in March. As of March 15th, there was short interest totalling 298,300 shares, an increase of 8.7% from the February 29th total of 274,300 shares. Currently, 4.2% of the company’s stock are short sold. Based on an average daily volume of 27,600 shares, the days-to-cover ratio is currently 10.8 days.

Envela Trading Down 1.3 %

NYSEAMERICAN:ELA opened at $4.56 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.97 and a current ratio of 5.55. Envela has a one year low of $3.02 and a one year high of $7.97. The stock has a market capitalization of $120.16 million, a P/E ratio of 17.54 and a beta of 0.09.

Envela (NYSEAMERICAN:ELAGet Free Report) last announced its quarterly earnings data on Wednesday, March 20th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $36.70 million during the quarter, compared to the consensus estimate of $41.72 million. Envela had a net margin of 4.16% and a return on equity of 15.11%. Sell-side analysts forecast that Envela will post 0.14 earnings per share for the current year.

Institutional Trading of Envela

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of Envela by 1,045.1% during the 2nd quarter. BlackRock Inc. now owns 225,024 shares of the company’s stock worth $1,656,000 after purchasing an additional 205,373 shares during the period. Heartland Advisors Inc. raised its position in shares of Envela by 66.4% during the 3rd quarter. Heartland Advisors Inc. now owns 400,000 shares of the company’s stock worth $1,896,000 after purchasing an additional 159,612 shares during the period. Renaissance Technologies LLC raised its position in shares of Envela by 52.3% during the 3rd quarter. Renaissance Technologies LLC now owns 321,304 shares of the company’s stock worth $1,626,000 after purchasing an additional 110,400 shares during the period. Jane Street Group LLC acquired a new stake in shares of Envela during the 1st quarter worth approximately $588,000. Finally, Leo Wealth LLC acquired a new stake in shares of Envela during the 4th quarter worth approximately $406,000. 8.15% of the stock is owned by institutional investors.

Envela Company Profile

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Envela Corporation, together with its subsidiaries, buys and sells jewelry and bullion products to individual consumers, dealers, and institutions in the United States. It offers jewelry and fine-watch products, including bridal jewelry, fashion jewelry, custom-made jewelry, diamonds, fine watches, and other products.

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