Envela (NYSEAMERICAN:ELA) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Shares of Envela Corporation (NYSEAMERICAN:ELA) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $10.47 and traded as high as $13.36. Envela shares last traded at $13.20, with a volume of 50,170 shares trading hands.

Wall Street Analyst Weigh In

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

Envela Stock Performance

The firm’s 50-day simple moving average is $13.27 and its two-hundred day simple moving average is $10.47. 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 market capitalization of $342.67 million, a PE ratio of 33.00 and a beta of 0.23.

Hedge Funds Weigh In On Envela

Several institutional investors and hedge funds have recently bought and sold shares of the business. Hillsdale Investment Management Inc. purchased a new stake in shares of Envela in the second quarter worth approximately $71,000. NewEdge Advisors LLC increased its stake in Envela by 129.2% in the 4th quarter. NewEdge Advisors LLC now owns 35,833 shares of the company’s stock valued at $479,000 after buying an additional 20,197 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Envela by 107.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 80,669 shares of the company’s stock worth $630,000 after buying an additional 41,830 shares in the last quarter. Bridgeway Capital Management LLC lifted its position in Envela by 16.4% in the 3rd quarter. Bridgeway Capital Management LLC now owns 106,700 shares of the company’s stock worth $833,000 after buying an additional 15,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Envela by 54.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 72,893 shares of the company’s stock valued at $975,000 after buying an additional 25,743 shares during the period. Hedge funds and other institutional investors own 8.15% of the company’s stock.

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.