Envela (NYSEAMERICAN:ELA) Stock Price Crosses Above 200 Day Moving Average - Should You Sell?

Shares of Envela Co. (NYSEAMERICAN:ELA - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $0.00 and traded as high as $6.95. Envela shares last traded at $6.66, with a volume of 62,882 shares.

Analyst Upgrades and Downgrades

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

Envela Trading Down 1.5 %

The firm has a market capitalization of $176.02 million, a PE ratio of 28.21 and a beta of 0.35. The company has a quick ratio of 2.08, a current ratio of 4.76 and a debt-to-equity ratio of 0.25.

Envela (NYSEAMERICAN:ELA - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.03. Envela had a net margin of 3.83% and a return on equity of 13.01%. The business had revenue of $46.90 million for the quarter, compared to analyst estimates of $39.85 million. Equities analysts expect that Envela Co. will post 0.24 earnings per share for the current year.

Hedge Funds Weigh In On Envela

Several institutional investors and hedge funds have recently made changes to their positions in ELA. Barclays PLC lifted its position in Envela by 113.7% in the 3rd quarter. Barclays PLC now owns 5,025 shares of the company's stock valued at $28,000 after acquiring an additional 2,674 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Envela in the 2nd quarter valued at about $42,000. Finally, US Bancorp DE bought a new stake in shares of Envela in the third quarter valued at about $339,000. Institutional investors and hedge funds own 8.15% of the company's stock.

Envela Company Profile

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.