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

Envela Corporation (NYSEAMERICAN:ELA) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.25 and traded as high as $12.96. Envela shares last traded at $12.50, with a volume of 25,576 shares.

Analyst Ratings Changes

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

Envela Stock Down 3.7%

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 firm’s fifty day moving average price is $11.08 and its two-hundred day moving average price is $8.25. The stock has a market cap of $324.50 million, a price-to-earnings ratio of 31.25 and a beta of 0.23.

Envela (NYSEAMERICAN:ELA) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.07. The business had revenue of $57.39 million during the quarter, compared to analyst estimates of $48.99 million. Envela had a net margin of 4.89% and a return on equity of 18.01%. Sell-side analysts forecast that Envela Corporation will post 0.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Envela

A number of hedge funds and other institutional investors have recently modified their holdings of ELA. Adamsbrown Wealth Consultants LLC bought a new stake in shares of Envela during the 2nd quarter worth $61,000. NewEdge Advisors LLC raised its stake in Envela by 1,015.6% in the first quarter. NewEdge Advisors LLC now owns 10,989 shares of the company’s stock valued at $68,000 after purchasing an additional 10,004 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in Envela in the second quarter valued at $71,000. Allspring Global Investments Holdings LLC bought a new stake in Envela in the 3rd quarter worth approximately $110,000. Finally, New York State Common Retirement Fund purchased a new stake in Envela during the second quarter valued at about $106,000. Hedge funds and other institutional investors own 8.15% of the company’s stock.

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.