Envela (NYSEAMERICAN:ELA) Share Price Passes Above 200 Day Moving Average - What's Next?

Envela Co. (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 $6.24. Envela shares last traded at $5.91, with a volume of 11,353 shares.

Envela Stock Performance

The firm has a market cap of $173.16 million, a PE ratio of 27.75 and a beta of 0.35. The company has a quick ratio of 2.08, a current ratio of 4.76 and a debt-to-equity ratio of 0.25.

Institutional Investors Weigh In On Envela

Institutional investors and hedge funds have recently modified their holdings of the stock. Mink Brook Asset Management LLC bought a new position in Envela in the fourth quarter worth $8,205,000. Topline Capital Management LLC bought a new stake in shares of Envela in the 4th quarter worth approximately $5,418,000. Millennium Management LLC increased its position in Envela by 4.2% during 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 in the last quarter. 683 Capital Management LLC purchased a new stake in shares of Envela in the fourth quarter worth $386,000. Finally, Northern Trust Corp boosted its stake in Envela by 67.1% in the 4th quarter. Northern Trust Corp now owns 49,320 shares of the company's stock worth $354,000 after purchasing an additional 19,799 shares in the last quarter. 8.15% of the stock is owned by hedge funds and other institutional investors.

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.