Envela (NYSEAMERICAN:ELA) Stock Price Passes Above 200 Day Moving Average - Here's Why

Envela Co. (NYSEAMERICAN:ELA - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $0.00 and traded as high as $7.30. Envela shares last traded at $7.15, with a volume of 9,477 shares changing hands.

Analyst Upgrades and Downgrades

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

Envela Stock Down 1.4 %

The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.08 and a current ratio of 4.76. The firm has a market cap of $185.90 million, a PE ratio of 29.79 and a beta of 0.31.

Envela (NYSEAMERICAN:ELA - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.03 by $0.03. The firm 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%. Sell-side analysts predict that Envela Co. will post 0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Envela

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