Envela (NYSEAMERICAN:ELA) Share Price Crosses Above 200-Day Moving Average - Should You Sell?

Envela Corporation (NYSEAMERICAN:ELA - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.00 and traded as high as $5.97. Envela shares last traded at $5.85, with a volume of 99,160 shares.

Analyst Upgrades and Downgrades

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

Envela Stock Performance

The company has a current ratio of 4.51, a quick ratio of 2.31 and a debt-to-equity ratio of 0.18. The business has a fifty day simple moving average of $6.18. The stock has a market cap of $150.80 million, a PE ratio of 20.71 and a beta of 0.14.

Institutional Investors Weigh In On Envela

Several hedge funds and other institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC raised its holdings in shares of 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 buying an additional 10,004 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Envela by 82.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 30,334 shares of the company's stock worth $189,000 after acquiring an additional 13,699 shares during the period. Jane Street Group LLC boosted 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 period. Ancora Advisors LLC acquired a new position in shares of Envela during the fourth quarter valued at $244,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of 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 purchasing an additional 26,598 shares in the last quarter. 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.