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

Envela Co. (NYSEAMERICAN:ELA - Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.00 and traded as high as $6.00. Envela shares last traded at $5.96, with a volume of 3,487 shares trading hands.

Wall Street Analyst Weigh In

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

Envela Stock Performance

The firm has a 50 day moving average of $6.35. The company has a current ratio of 4.76, a quick ratio of 2.08 and a debt-to-equity ratio of 0.25. The company has a market cap of $152.10 million, a P/E ratio of 24.38 and a beta of 0.35.

Institutional Investors Weigh In On Envela

Hedge funds and other institutional investors have recently bought and sold shares of the business. NewEdge Advisors LLC lifted its position in Envela by 1,015.6% during the first quarter. NewEdge Advisors LLC now owns 10,989 shares of the company's stock valued at $68,000 after purchasing an additional 10,004 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Envela by 82.4% in the first quarter. Goldman Sachs Group Inc. now owns 30,334 shares of the company's stock worth $189,000 after purchasing an additional 13,699 shares in the last quarter. Jane Street Group LLC increased its stake in shares of Envela by 12.1% in the first quarter. Jane Street Group LLC now owns 34,024 shares of the company's stock worth $212,000 after purchasing an additional 3,681 shares in the last quarter. Ancora Advisors LLC purchased a new stake in shares of Envela in the fourth quarter worth $244,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in Envela by 217.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 38,839 shares of the company's stock valued at $279,000 after acquiring an additional 26,598 shares in the last quarter. Hedge funds and other 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.