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Envela (NYSEAMERICAN:ELA) Shares Cross Above 200 Day Moving Average - Time to Sell?

Envela logo with Retail/Wholesale background

Envela Corporation (NYSEAMERICAN:ELA - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.00 and traded as high as $6.25. Envela shares last traded at $6.08, with a volume of 12,074 shares.

Analyst Ratings Changes

Separately, Lake Street Capital raised 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.

View Our Latest Stock Report on ELA

Envela Stock Performance

The firm's 50 day simple moving average is $6.09. The company has a market capitalization of $158.08 million, a P/E ratio of 21.71 and a beta of 0.12. The company has a current ratio of 4.51, a quick ratio of 2.31 and a debt-to-equity ratio of 0.18.

Institutional Investors Weigh In On Envela

Several institutional investors and hedge funds have recently modified their holdings of ELA. Millennium Management LLC lifted its position in Envela by 4.2% during the 4th quarter. Millennium Management LLC now owns 55,907 shares of the company's stock worth $401,000 after acquiring an additional 2,253 shares during the last quarter. Jane Street Group LLC lifted its position in Envela by 12.1% during the 1st quarter. Jane Street Group LLC now owns 34,024 shares of the company's stock worth $212,000 after acquiring an additional 3,681 shares during the last quarter. Adamsbrown Wealth Consultants LLC acquired a new position in Envela during the 2nd quarter worth $61,000. NewEdge Advisors LLC lifted its position in Envela by 1,015.6% during the 1st quarter. NewEdge Advisors LLC now owns 10,989 shares of the company's stock worth $68,000 after acquiring an additional 10,004 shares during the last quarter. Finally, Ancora Advisors LLC lifted its position in Envela by 32.1% during the 1st 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. Institutional investors and hedge funds own 8.15% of the company's stock.

About Envela

(Get Free Report)

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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