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

Envela Corporation (NYSEAMERICAN:ELA - Get Free Report)'s stock price 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 $6.04. Envela shares last traded at $5.80, with a volume of 25,910 shares traded.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital lifted their price objective on Envela from $7.00 to $9.00 and gave the company a "buy" rating in a report on Thursday, May 8th.

Envela Trading Up 1.3%

The firm has a market cap of $142.74 million, a price-to-earnings ratio of 19.61 and a beta of 0.12. The company has a quick ratio of 2.31, a current ratio of 4.51 and a debt-to-equity ratio of 0.18. The firm has a fifty day simple moving average of $5.95.

Hedge Funds Weigh In On Envela

Several hedge funds have recently bought and sold shares of ELA. Arrowstreet Capital Limited Partnership raised its position in shares of Envela by 217.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 38,839 shares of the company's stock worth $279,000 after acquiring an additional 26,598 shares in the last quarter. Topline Capital Management LLC acquired a new position in shares of Envela in the fourth quarter valued at approximately $5,418,000. Northern Trust Corp boosted its stake in shares of Envela by 67.1% in the fourth quarter. Northern Trust Corp now owns 49,320 shares of the company's stock valued at $354,000 after buying an additional 19,799 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of Envela by 72.8% in the fourth quarter. Jane Street Group LLC now owns 30,343 shares of the company's stock valued at $218,000 after buying an additional 12,783 shares in the last quarter. Finally, 683 Capital Management LLC purchased a new stake in shares of Envela in the fourth quarter valued at approximately $386,000. Institutional investors and hedge funds 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.