Envela (NYSEAMERICAN:ELA) Share Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Envela Corporation's stock price rose above its 200-day moving average, trading at $7.27, with a peak of $7.70 during the session.
• B. Riley increased their price target for Envela shares from $10.00 to $11.00, maintaining a "buy" rating, while the stock has a consensus rating of "Buy" overall.
• Institutional investors have recently increased their stakes in Envela, with significant boosts from firms like Goldman Sachs Group Inc. and Millennium Management LLC.

Envela Corporation (NYSEAMERICAN:ELA - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $6.49 and traded as high as $7.70. Envela shares last traded at $7.27, with a volume of 60,982 shares traded.

Analysts Set New Price Targets

Separately, B. Riley raised their price objective on shares of Envela from $10.00 to $11.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $10.00.

Envela Stock Down 3.3%

The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.36 and a current ratio of 4.58. The firm has a market capitalization of $188.80 million, a P/E ratio of 22.03 and a beta of 0.34. The stock has a fifty day moving average price of $7.11 and a two-hundred day moving average price of $6.49.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Millennium Management LLC boosted its holdings in shares of Envela by 4.2% in the 4th quarter. Millennium Management LLC now owns 55,907 shares of the company's stock valued at $401,000 after buying an additional 2,253 shares during the period. Mink Brook Asset Management LLC raised its stake in 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 acquiring an additional 156,754 shares during the period. Ancora Advisors LLC lifted its holdings in Envela by 32.1% in the first quarter. Ancora Advisors LLC now owns 44,923 shares of the company's stock worth $280,000 after acquiring an additional 10,923 shares during the last quarter. NewEdge Advisors LLC boosted its stake in Envela by 1,015.6% in the first quarter. NewEdge Advisors LLC now owns 10,989 shares of the company's stock valued at $68,000 after acquiring an additional 10,004 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in Envela by 82.4% in the first quarter. Goldman Sachs Group Inc. now owns 30,334 shares of the company's stock valued at $189,000 after acquiring an additional 13,699 shares during the period. 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.

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