Envela (NYSEAMERICAN:ELA) Stock Crosses Above 200-Day Moving Average - Should You Sell?

Shares of Envela Corporation (NYSEAMERICAN:ELA - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.00 and traded as high as $6.00. Envela shares last traded at $5.78, with a volume of 27,379 shares.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital raised their target price on shares of Envela from $7.00 to $9.00 and gave the company a "buy" rating in a research note on Thursday, May 8th.

Envela Price Performance

The company's 50 day moving average is $6.02. The firm has a market capitalization of $154.44 million, a price-to-earnings ratio of 21.21 and a beta of 0.12. The company has a current ratio of 4.51, a quick ratio of 2.31 and a debt-to-equity ratio of 0.18.

Hedge Funds Weigh In On Envela

A number of institutional investors and hedge funds have recently made changes to their positions in ELA. Northern Trust Corp lifted its stake in Envela by 67.1% during the 4th quarter. Northern Trust Corp now owns 49,320 shares of the company's stock valued at $354,000 after acquiring an additional 19,799 shares during the period. Jane Street Group LLC grew its position in Envela by 72.8% in the 4th quarter. Jane Street Group LLC now owns 30,343 shares of the company's stock worth $218,000 after purchasing an additional 12,783 shares during the period. Mink Brook Asset Management LLC bought a new stake in Envela in the 4th quarter worth approximately $8,205,000. Millennium Management LLC grew its position in 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 period. Finally, Arrowstreet Capital Limited Partnership grew its position in Envela by 217.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 38,839 shares of the company's stock worth $279,000 after purchasing an additional 26,598 shares during the period. Institutional investors own 8.15% of the company's stock.

Envela Company Profile

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.