Envela Co. (NYSEAMERICAN:ELA) Sees Significant Decrease in Short Interest

Envela Co. (NYSEAMERICAN:ELA) saw a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 109,600 shares, a decrease 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 presently 5.0 days. Approximately 1.7% of the company’s shares are short sold.

Envela Trading Down 1.5 %

Shares of NYSEAMERICAN ELA opened at $6.64 on Wednesday. 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 firm has a market capitalization of $172.64 million, a PE ratio of 27.67 and a beta of 0.35. Envela has a 12-month low of $4.20 and a 12-month high of $7.88.

Institutional Trading of Envela

Hedge funds have recently added to or reduced their stakes in the company. Barclays PLC raised its holdings in Envela by 113.7% during the third quarter. Barclays PLC now owns 5,025 shares of the company’s stock worth $28,000 after purchasing an additional 2,674 shares in the last quarter. US Bancorp DE purchased a new position in Envela in the 3rd quarter valued at $339,000. Millennium Management LLC increased its stake in Envela by 4.2% in the 4th quarter. Millennium Management LLC now owns 55,907 shares of the company’s stock valued at $401,000 after buying an additional 2,253 shares during the period. Jane Street Group LLC raised its position in Envela by 72.8% during the 4th quarter. Jane Street Group LLC now owns 30,343 shares of the company’s stock worth $218,000 after buying an additional 12,783 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Envela by 67.1% during the fourth quarter. Northern Trust Corp now owns 49,320 shares of the company’s stock worth $354,000 after acquiring an additional 19,799 shares during the period. Institutional investors and hedge funds own 8.15% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.