Envela Co. (NYSEAMERICAN:ELA) Short Interest Update

Envela Co. (NYSEAMERICAN:ELA) was the target of a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 109,600 shares, a decline of 5.9% from the January 15th total of 116,500 shares. Based on an average daily volume of 21,800 shares, the short-interest ratio is currently 5.0 days. Approximately 1.7% of the company’s shares are sold short.

Analysts Set New Price Targets

Separately, Lake Street Capital boosted their price target on shares of Envela from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th.

Envela Stock Up 2.0 %

Shares of NYSEAMERICAN:ELA opened at $6.77 on Thursday. The stock has a market cap of $176.02 million, a PE ratio of 28.21 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. Envela has a 12 month low of $4.20 and a 12 month high of $7.88.

Hedge Funds Weigh In On Envela

Several hedge funds and other institutional investors have recently modified their holdings of ELA. Barclays PLC increased its position in shares of Envela by 113.7% during the third quarter. Barclays PLC now owns 5,025 shares of the company’s stock valued at $28,000 after buying an additional 2,674 shares during the period. Jane Street Group LLC increased its position in shares of Envela by 72.8% during the fourth quarter. Jane Street Group LLC now owns 30,343 shares of the company’s stock valued at $218,000 after buying an additional 12,783 shares during the period. Ancora Advisors LLC purchased a new position in shares of Envela during the fourth quarter valued at about $244,000. Arrowstreet Capital Limited Partnership increased its position 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 buying an additional 26,598 shares during the period. Finally, US Bancorp DE purchased a new position in shares of Envela during the third quarter valued at about $339,000. 8.15% of the stock is owned by 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.