Envela Corporation $ELA is Mink Brook Asset Management LLC's 5th Largest Position

Key Points

• Mink Brook Asset Management LLC has increased its holdings in Envela Corporation by 13.7%, now owning about 1.3 million shares valued at approximately $8.1 million.
• Investment analysts have recently raised their target price for Envela, with Lake Street Capital increasing it from $7.00 to $9.00 and B. Riley from $10.00 to $11.00, both maintaining a "buy" rating.
• As of the latest update, Envela's stock is trading at $7.29 with a market cap of $189.32 million, and it has a consensus rating of "Buy" with an average price target of $10.00.

Mink Brook Asset Management LLC boosted its holdings in shares of Envela Corporation (NYSEAMERICAN:ELA - Free Report) by 13.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,299,523 shares of the company's stock after buying an additional 156,754 shares during the quarter. Envela makes up approximately 8.5% of Mink Brook Asset Management LLC's investment portfolio, making the stock its 5th largest position. Mink Brook Asset Management LLC owned approximately 5.00% of Envela worth $8,096,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Millennium Management LLC boosted its position in Envela by 4.2% during the fourth quarter. Millennium Management LLC now owns 55,907 shares of the company's stock worth $401,000 after purchasing an additional 2,253 shares during the period. 683 Capital Management LLC bought a new stake in shares of Envela during the fourth quarter worth approximately $386,000. Northern Trust Corp grew its position 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 purchasing an additional 19,799 shares during the last quarter. Ancora Advisors LLC bought a new position in shares of Envela during the fourth quarter worth approximately $244,000. Finally, Jane Street Group LLC lifted its holdings in Envela by 72.8% during the 4th quarter. Jane Street Group LLC now owns 30,343 shares of the company's stock worth $218,000 after purchasing an additional 12,783 shares during the last quarter. 8.15% of the stock is owned by institutional investors and hedge funds.

Envela Price Performance

Shares of ELA stock traded down $0.01 on Thursday, hitting $7.34. The stock had a trading volume of 49,565 shares, compared to its average volume of 30,645. Envela Corporation has a 12-month low of $4.40 and a 12-month high of $7.88. The company's 50 day moving average is $6.25. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.36 and a current ratio of 4.58. The company has a market cap of $190.62 million, a PE ratio of 22.24 and a beta of 0.22.

Wall Street Analyst Weigh In

A number of research firms recently commented on ELA. Lake Street Capital raised their price target on shares of Envela from $7.00 to $9.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. B. Riley boosted their price objective on Envela from $10.00 to $11.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $10.00.

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.