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

Envela Co. (NYSEAMERICAN:ELA) was the target of a large growth in short interest during the month of 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. Approximately 2.0% of the shares of the company are sold short. Based on an average daily trading volume, of 13,900 shares, the days-to-cover ratio is presently 9.6 days.

Institutional Trading of Envela

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Envela by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 453,065 shares of the company’s stock valued at $2,093,000 after purchasing an additional 3,678 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Envela during the 2nd quarter worth about $50,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Envela during the 2nd quarter worth about $42,000. Renaissance Technologies LLC increased its position in shares of Envela by 11.8% during the 2nd quarter. Renaissance Technologies LLC now owns 195,428 shares of the company’s stock worth $877,000 after purchasing an additional 20,624 shares in the last quarter. Finally, US Bancorp DE acquired a new stake in shares of Envela during the 3rd quarter worth about $339,000. 8.15% of the stock is owned by institutional investors.

Envela Stock Performance

NYSEAMERICAN:ELA traded down $0.03 during midday trading on Thursday, reaching $5.26. The stock had a trading volume of 12,596 shares, compared to its average volume of 30,500. Envela has a 1-year low of $3.02 and a 1-year high of $5.80. The company has a current ratio of 5.88, a quick ratio of 2.72 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $137.13 million, a PE ratio of 21.83 and a beta of 0.25.

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