Envela Co. (NYSEAMERICAN:ELA) Sees Large Growth in Short Interest

Envela Co. (NYSEAMERICAN:ELA) was the target of a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 133,600 shares, an increase of 9.3% from the September 30th total of 122,200 shares. Currently, 2.0% of the company’s shares are sold short. Based on an average daily trading volume, of 13,900 shares, the short-interest ratio is presently 9.6 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ELA. Vanguard Group Inc. boosted its holdings in Envela by 0.8% during the first quarter. Vanguard Group Inc. now owns 453,065 shares of the company’s stock worth $2,093,000 after purchasing an additional 3,678 shares during the last quarter. Renaissance Technologies LLC lifted its stake 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. Cubist Systematic Strategies LLC acquired a new stake in Envela in the second quarter valued at $42,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Envela in the second quarter valued at $50,000. Finally, US Bancorp DE acquired a new stake in Envela in the third quarter valued at $339,000. Institutional investors and hedge funds own 8.15% of the company’s stock.

Envela Stock Down 0.6 %

NYSEAMERICAN:ELA traded down $0.03 during trading hours on Thursday, hitting $5.26. The stock had a trading volume of 12,596 shares, compared to its average volume of 30,500. Envela has a one year low of $3.02 and a one year 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 $137.13 million, a PE ratio of 21.83 and a beta of 0.25.

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

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.