Short Interest in Envela Co. (NYSEAMERICAN:ELA) Rises By 8.7%

Envela Co. (NYSEAMERICAN:ELAGet Free Report) saw a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 298,300 shares, a growth of 8.7% from the February 29th total of 274,300 shares. Based on an average daily trading volume, of 27,600 shares, the short-interest ratio is presently 10.8 days. Currently, 4.2% of the company’s stock are sold short.

Envela Stock Up 0.9 %

ELA stock opened at $4.60 on Wednesday. The company has a market cap of $121.21 million, a P/E ratio of 17.69 and a beta of 0.09. Envela has a twelve month low of $3.02 and a twelve month high of $7.97. The company has a debt-to-equity ratio of 0.28, a current ratio of 5.55 and a quick ratio of 2.97.

Envela (NYSEAMERICAN:ELAGet Free Report) last issued its quarterly earnings results on Wednesday, March 20th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $36.70 million for the quarter, compared to the consensus estimate of $41.72 million. Envela had a net margin of 4.16% and a return on equity of 15.11%. As a group, sell-side analysts expect that Envela will post 0.14 EPS for the current fiscal year.

Institutional Trading of Envela

A number of institutional investors and hedge funds have recently bought and sold shares of ELA. State Street Corp grew its holdings in shares of Envela by 44.1% during the second quarter. State Street Corp now owns 17,584 shares of the company’s stock valued at $125,000 after buying an additional 5,384 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Envela by 1,077.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 6,512 shares of the company’s stock valued at $33,000 after buying an additional 5,959 shares during the period. Dimensional Fund Advisors LP boosted its position in Envela by 82.8% in the third quarter. Dimensional Fund Advisors LP now owns 26,931 shares of the company’s stock worth $136,000 after purchasing an additional 12,200 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Envela by 52.3% in the 3rd quarter. Renaissance Technologies LLC now owns 321,304 shares of the company’s stock worth $1,626,000 after purchasing an additional 110,400 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Envela in the third quarter worth approximately $66,000. 8.15% of the stock is currently owned by institutional investors.

About Envela

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Envela Corporation, together with its subsidiaries, buys and sells jewelry and bullion products to individual consumers, dealers, and institutions in the United States. It offers jewelry and fine-watch products, including bridal jewelry, fashion jewelry, custom-made jewelry, diamonds, fine watches, and other products.

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