Envela (NYSEAMERICAN:ELA) Stock Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Envela Corporation (NYSEAMERICAN:ELA) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $7.94 and traded as high as $13.48. Envela shares last traded at $13.48, with a volume of 348,904 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. B. Riley reissued a “buy” rating and issued a $14.00 price objective (up previously from $11.00) on shares of Envela in a report on Monday, November 10th. Lake Street Capital reissued a “buy” rating and issued a $12.00 price target on shares of Envela in a report on Thursday, November 6th. Finally, Zacks Research lowered Envela from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $13.00.

Envela Price Performance

The company has a current ratio of 5.19, a quick ratio of 2.65 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average price of $10.44 and a 200 day moving average price of $7.94. The stock has a market capitalization of $349.94 million, a price-to-earnings ratio of 33.70 and a beta of 0.23.

Envela (NYSEAMERICAN:ELA) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. Envela had a return on equity of 18.01% and a net margin of 4.89%.The company had revenue of $57.39 million during the quarter, compared to analysts’ expectations of $48.99 million. As a group, equities research analysts expect that Envela Corporation will post 0.24 earnings per share for the current year.

Institutional Investors Weigh In On Envela

Several institutional investors and hedge funds have recently added to or reduced their stakes in ELA. Adamsbrown Wealth Consultants LLC purchased a new position in Envela during the second quarter valued at $61,000. NewEdge Advisors LLC raised its position in shares of Envela by 1,015.6% during the 1st quarter. NewEdge Advisors LLC now owns 10,989 shares of the company’s stock worth $68,000 after purchasing an additional 10,004 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new position in Envela in the 2nd quarter valued at about $71,000. Allspring Global Investments Holdings LLC purchased a new position in Envela in the 3rd quarter valued at about $110,000. Finally, New York State Common Retirement Fund acquired a new stake in Envela in the 2nd quarter worth about $106,000. Hedge funds and other 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.