Envela (NYSEAMERICAN:ELA) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Envela Corporation (NYSEAMERICAN:ELA)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $16.57 and traded as high as $26.65. Envela shares last traded at $26.42, with a volume of 51,552 shares.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Lake Street Capital reissued a “buy” rating and issued a $27.00 price target on shares of Envela in a report on Thursday, May 7th. B. Riley Financial boosted their target price on shares of Envela from $14.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, March 19th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.50.

Envela Stock Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.97 and a current ratio of 3.52. The firm has a market capitalization of $713.38 million, a P/E ratio of 33.93 and a beta of 0.40. The firm has a 50 day moving average price of $22.20 and a two-hundred day moving average price of $16.68.

Envela (NYSEAMERICAN:ELA) last announced its earnings results on Wednesday, May 6th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.34. Envela had a return on equity of 32.00% and a net margin of 7.19%.The company had revenue of $98.38 million for the quarter, compared to analyst estimates of $98.39 million. On average, equities research analysts expect that Envela Corporation will post 0.8 EPS for the current fiscal year.

Institutional Trading of Envela

A number of hedge funds have recently bought and sold shares of ELA. Tradewinds Capital Management LLC acquired a new position in shares of Envela in the fourth quarter worth about $36,000. NewEdge Advisors LLC lifted its position in shares of Envela by 1,015.6% in the 1st quarter. NewEdge Advisors LLC now owns 10,989 shares of the company’s stock valued at $68,000 after acquiring an additional 10,004 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Envela by 471.0% in the 4th quarter. Deutsche Bank AG now owns 6,252 shares of the company’s stock valued at $84,000 after acquiring an additional 5,157 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Envela by 78.1% in the 4th quarter. Wells Fargo & Company MN now owns 7,275 shares of the company’s stock worth $97,000 after purchasing an additional 3,191 shares during the period. Finally, New York State Common Retirement Fund purchased a new position in Envela during the 2nd quarter worth approximately $106,000. 8.15% of the stock is owned by hedge funds and other institutional investors.

Envela Company Profile

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.