Envela Co. (NYSEAMERICAN:ELA) Short Interest Down 7.9% in October

Envela Co. (NYSEAMERICAN:ELA - Get Free Report) was the target of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 123,100 shares, a decrease of 7.9% from the October 15th total of 133,600 shares. Currently, 1.9% of the shares of the company are short sold. Based on an average daily volume of 14,300 shares, the days-to-cover ratio is presently 8.6 days.

Envela Price Performance

Envela stock traded up $0.22 during midday trading on Monday, reaching $6.46. The stock had a trading volume of 13,102 shares, compared to its average volume of 30,109. The stock has a market capitalization of $167.96 million, a P/E ratio of 26.00 and a beta of 0.25. The company has a current ratio of 4.76, a quick ratio of 2.08 and a debt-to-equity ratio of 0.25. Envela has a twelve month low of $3.91 and a twelve month high of $6.47.

Envela (NYSEAMERICAN:ELA - Get Free Report) last issued its earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.03 by $0.03. The business had revenue of $46.90 million during the quarter, compared to analysts' expectations of $39.85 million. Envela had a return on equity of 13.01% and a net margin of 3.83%. As a group, research analysts anticipate that Envela will post 0.24 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC raised its stake in shares of Envela by 113.7% during the third quarter. Barclays PLC now owns 5,025 shares of the company's stock valued at $28,000 after purchasing an additional 2,674 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in Envela during the second quarter valued at approximately $42,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Envela in the second quarter worth $50,000. US Bancorp DE bought a new stake in shares of Envela during the 3rd quarter valued at about $339,000. Finally, Renaissance Technologies LLC raised its position in shares of Envela by 11.8% during the 2nd quarter. Renaissance Technologies LLC now owns 195,428 shares of the company's stock worth $877,000 after purchasing an additional 20,624 shares during the period. Institutional investors and hedge funds own 8.15% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital boosted their target price on shares of Envela from $6.00 to $7.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th.

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.