Envela (NYSEAMERICAN:ELA) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Envela Corporation (NYSEAMERICAN:ELA)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $10.05 and traded as high as $13.19. Envela shares last traded at $12.85, with a volume of 46,010 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Lake Street Capital reissued a “buy” rating and set a $12.00 price target on shares of Envela in a research report on Thursday, November 6th. B. Riley Financial reaffirmed a “buy” rating and set a $14.00 target price (up from $11.00) on shares of Envela in a research note on Monday, November 10th. Finally, Zacks Research cut shares of Envela from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.00.

Envela Price Performance

The firm has a market capitalization of $333.59 million, a price-to-earnings ratio of 32.13 and a beta of 0.23. The stock’s fifty day moving average price is $13.20 and its two-hundred day moving average price is $10.08. The company has a current ratio of 5.19, a quick ratio of 2.65 and a debt-to-equity ratio of 0.16.

Institutional Trading of Envela

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ELA. State Street Corp boosted its holdings in shares of Envela by 18.9% in the 4th quarter. State Street Corp now owns 74,014 shares of the company’s stock valued at $990,000 after buying an additional 11,780 shares in the last quarter. Wells Fargo & Company MN lifted its position in Envela by 78.1% in the fourth quarter. Wells Fargo & Company MN now owns 7,275 shares of the company’s stock valued at $97,000 after acquiring an additional 3,191 shares during the last quarter. Informed Momentum Co LLC acquired a new position in Envela in the fourth quarter valued at $1,300,000. Deutsche Bank AG grew its holdings in shares of Envela by 471.0% during the fourth quarter. Deutsche Bank AG now owns 6,252 shares of the company’s stock worth $84,000 after purchasing an additional 5,157 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC purchased a new position in shares of Envela during the fourth quarter worth about $212,000. Institutional investors and hedge funds own 8.15% of the company’s stock.

About Envela

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.