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

Envela Co. (NYSEAMERICAN:ELA - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.00 and traded as high as $7.46. Envela shares last traded at $7.41, with a volume of 23,833 shares.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital lifted their price objective 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.

Envela Stock Up 0.1 %

The company has a market capitalization of $192.92 million, a P/E ratio of 30.92 and a beta of 0.31. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.08 and a current ratio of 4.76.

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

Hedge Funds Weigh In On Envela

Hedge funds have recently modified their holdings of the company. Barclays PLC boosted its holdings in Envela by 113.7% in the third 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 purchased a new stake in shares of Envela in the 2nd quarter worth about $42,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Envela during the 2nd quarter valued at about $50,000. US Bancorp DE purchased a new position in shares of Envela during the third quarter valued at about $339,000. Finally, Renaissance Technologies LLC raised its stake in Envela by 11.8% in the second quarter. Renaissance Technologies LLC now owns 195,428 shares of the company's stock worth $877,000 after buying an additional 20,624 shares in the last quarter. Hedge funds and other institutional investors own 8.15% of the company's stock.

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.