Envela Co. (NYSEAMERICAN:ELA) Short Interest Update

Envela Co. (NYSEAMERICAN:ELA) saw a significant growth in short interest in October. As of October 15th, there was short interest totalling 133,600 shares, a growth of 9.3% from the September 30th total of 122,200 shares. Based on an average daily trading volume, of 13,900 shares, the days-to-cover ratio is currently 9.6 days. Approximately 2.0% of the shares of the company are sold short.

Envela Stock Down 1.3 %

Shares of ELA traded down $0.07 during midday trading on Wednesday, reaching $5.29. 11,893 shares of the stock were exchanged, compared to its average volume of 30,586. Envela has a twelve month low of $3.02 and a twelve month high of $5.80. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.72 and a current ratio of 5.88. The company has a market capitalization of $137.91 million, a P/E ratio of 22.33 and a beta of 0.25.

Envela (NYSEAMERICAN:ELA) last posted its earnings results on Wednesday, August 7th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The company had revenue of $45.30 million during the quarter, compared to the consensus estimate of $36.02 million. Envela had a return on equity of 13.27% and a net margin of 4.10%. On average, equities analysts expect that Envela will post 0.21 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. US Bancorp DE bought a new position in Envela in the third quarter valued at about $339,000. Cubist Systematic Strategies LLC bought a new position in Envela in the second quarter valued at about $42,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Envela in the second quarter valued at about $50,000. Renaissance Technologies LLC grew its position in Envela by 11.8% in the second quarter. Renaissance Technologies LLC now owns 195,428 shares of the company’s stock valued at $877,000 after acquiring an additional 20,624 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Envela by 0.8% in the first quarter. Vanguard Group Inc. now owns 453,065 shares of the company’s stock valued at $2,093,000 after acquiring an additional 3,678 shares during the last quarter. Institutional investors and hedge funds 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.