Envela (NYSEAMERICAN:ELA) Stock Price Crosses Above 200 Day Moving Average - Here's What Happened

Envela Corporation (NYSEAMERICAN:ELA - Get Free Report)'s share price 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 trading hands.

Analysts Set New Price Targets

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

Envela Price Performance

The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.31 and a current ratio of 4.51. The firm's 50-day moving average is $6.02. The stock has a market capitalization of $155.61 million, a price-to-earnings ratio of 21.32 and a beta of 0.12.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Mink Brook Asset Management LLC raised its holdings in shares of Envela by 13.7% during the first quarter. Mink Brook Asset Management LLC now owns 1,299,523 shares of the company's stock worth $8,096,000 after purchasing an additional 156,754 shares during the period. Topline Capital Management LLC acquired a new stake in shares of Envela during the fourth quarter worth $5,418,000. Millennium Management LLC raised its holdings in shares of Envela by 4.2% during the fourth 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. 683 Capital Management LLC acquired a new stake in shares of Envela during the fourth quarter worth $386,000. Finally, Northern Trust Corp raised its holdings in shares of Envela by 67.1% during the fourth quarter. Northern Trust Corp now owns 49,320 shares of the company's stock worth $354,000 after purchasing an additional 19,799 shares during the period. 8.15% of the stock is currently owned by hedge funds and other 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.