Envela (NYSEAMERICAN:ELA) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Envela Co. (NYSEAMERICAN:ELA) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.00 and traded as high as $6.50. Envela shares last traded at $6.38, with a volume of 22,818 shares trading hands.

Analyst Ratings Changes

Separately, Lake Street Capital raised their price target on Envela from $6.00 to $7.00 and gave the company a “buy” rating in a report on Wednesday, November 6th.

Envela Trading Down 3.6 %

The firm has a market cap of $165.88 million, a price-to-earnings ratio of 26.58 and a beta of 0.35. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.76 and a quick ratio of 2.08.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Mink Brook Asset Management LLC bought a new position in Envela in the 4th quarter valued at $8,205,000. Topline Capital Management LLC bought a new position in shares of Envela in the 4th quarter worth $5,418,000. US Bancorp DE bought a new position in shares of Envela in the 3rd quarter worth $339,000. Millennium Management LLC boosted its position in shares of Envela by 4.2% in the 4th quarter. Millennium Management LLC now owns 55,907 shares of the company’s stock worth $401,000 after purchasing an additional 2,253 shares during the last quarter. Finally, 683 Capital Management LLC bought a new position in shares of Envela in the 4th quarter worth $386,000. 8.15% of the stock is currently owned by institutional investors.

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.