Envela (NYSEAMERICAN:ELA) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Envela Corporation (NYSEAMERICAN:ELA)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $10.05 and traded as high as $13.19. Envela shares last traded at $12.85, with a volume of 46,010 shares trading hands.

Analyst Ratings Changes

ELA has been the topic of several research analyst reports. B. Riley Financial restated a “buy” rating and issued a $14.00 price objective (up from $11.00) on shares of Envela in a report on Monday, November 10th. Lake Street Capital reiterated a “buy” rating and set a $12.00 price target on shares of Envela in a research report on Thursday, November 6th. Finally, Zacks Research lowered shares of Envela from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 4th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.00.

Envela Stock Performance

The stock has a market capitalization of $333.59 million, a PE ratio of 32.13 and a beta of 0.23. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.65 and a current ratio of 5.19. The firm’s 50 day moving average is $13.20 and its two-hundred day moving average is $10.05.

Institutional Trading of Envela

A number of large investors have recently made changes to their positions in the company. Tradewinds Capital Management LLC purchased a new position in Envela in the fourth quarter worth approximately $36,000. NewEdge Advisors LLC raised its holdings in shares of Envela by 1,015.6% in the 1st 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. purchased a new stake in shares of Envela during the 2nd quarter worth $71,000. Deutsche Bank AG grew its stake in shares of Envela by 471.0% during the fourth quarter. Deutsche Bank AG now owns 6,252 shares of the company’s stock worth $84,000 after purchasing an additional 5,157 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Envela by 78.1% in the fourth quarter. Wells Fargo & Company MN now owns 7,275 shares of the company’s stock valued at $97,000 after buying an additional 3,191 shares during the last quarter. 8.15% of the stock is currently owned by hedge funds and other institutional investors.

About Envela

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.