Envela (NYSEAMERICAN:ELA) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

Envela Corporation (NYSEAMERICAN:ELA) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $6.49 and traded as high as $7.70. Envela shares last traded at $7.27, with a volume of 60,982 shares traded.

Analyst Ratings Changes

Separately, B. Riley boosted their price target on shares of Envela from $10.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday, August 13th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $10.00.

Envela Stock Performance

The firm has a market capitalization of $188.80 million, a price-to-earnings ratio of 22.03 and a beta of 0.34. The company has a 50-day moving average price of $7.11 and a 200-day moving average price of $6.49. The company has a quick ratio of 2.36, a current ratio of 4.58 and a debt-to-equity ratio of 0.17.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Millennium Management LLC raised its stake in shares of Envela by 4.2% during the fourth quarter. Millennium Management LLC now owns 55,907 shares of the company’s stock valued at $401,000 after purchasing an additional 2,253 shares in the last quarter. Bank of America Corp DE increased its stake in Envela by 8.9% during the 2nd quarter. Bank of America Corp DE now owns 43,906 shares of the company’s stock valued at $269,000 after buying an additional 3,583 shares during the period. Jane Street Group LLC raised its position in shares of Envela by 12.1% during the 1st quarter. Jane Street Group LLC now owns 34,024 shares of the company’s stock worth $212,000 after buying an additional 3,681 shares in the last quarter. Adamsbrown Wealth Consultants LLC acquired a new stake in shares of Envela in the 2nd quarter worth approximately $61,000. Finally, NewEdge Advisors LLC boosted its holdings in shares of Envela by 1,015.6% in the first 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. 8.15% of the stock is owned by institutional investors and hedge funds.

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.