Envela (NYSEAMERICAN:ELA) Stock Passes Above 200-Day Moving Average – Should You Sell?

Shares of Envela Co. (NYSEAMERICAN:ELA) crossed 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.

Envela Price Performance

The firm has a market cap of $169.26 million, a P/E ratio of 27.13 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.

Hedge Funds Weigh In On Envela

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC boosted its stake in shares of Envela by 4.2% in the fourth quarter. Millennium Management LLC now owns 55,907 shares of the company’s stock worth $401,000 after acquiring an additional 2,253 shares during the last quarter. Barclays PLC grew its holdings in shares of Envela by 113.7% during the third quarter. Barclays PLC now owns 5,025 shares of the company’s stock worth $28,000 after buying an additional 2,674 shares in the last quarter. Jane Street Group LLC raised its position in shares of Envela by 72.8% in 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 last quarter. Northern Trust Corp lifted its stake in shares of Envela by 67.1% in the fourth quarter. Northern Trust Corp now owns 49,320 shares of the company’s stock worth $354,000 after buying an additional 19,799 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in Envela by 217.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 38,839 shares of the company’s stock worth $279,000 after acquiring an additional 26,598 shares during the last quarter. 8.15% of the stock is owned by hedge funds and other 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.