Envela (NYSEAMERICAN:ELA) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Envela Co. (NYSEAMERICAN:ELA)’s stock price 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 $6.50. Envela shares last traded at $6.42, with a volume of 19,977 shares changing hands.

Envela Stock Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.08 and a current ratio of 4.76. The company has a market cap of $166.92 million, a PE ratio of 26.75 and a beta of 0.35.

Institutional Trading of Envela

Several hedge funds have recently added to or reduced their stakes in ELA. Mink Brook Asset Management LLC bought a new stake in shares of Envela during the 4th quarter worth about $8,205,000. Millennium Management LLC increased its stake in shares of Envela by 4.2% during the fourth quarter. Millennium Management LLC now owns 55,907 shares of the company’s stock valued at $401,000 after acquiring an additional 2,253 shares during the period. Ancora Advisors LLC bought a new stake in Envela during the fourth quarter worth approximately $244,000. 683 Capital Management LLC acquired a new stake in Envela in the fourth quarter worth approximately $386,000. Finally, Jane Street Group LLC boosted its stake in Envela by 72.8% during the 4th quarter. Jane Street Group LLC now owns 30,343 shares of the company’s stock valued at $218,000 after purchasing an additional 12,783 shares in the last quarter. Institutional investors own 8.15% of the company’s stock.

About Envela

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.