Envela Co. (NYSEAMERICAN:ELA) Short Interest Down 16.1% in August

Envela Co. (NYSEAMERICAN:ELA) saw a large drop in short interest during the month of August. As of August 15th, there was short interest totalling 136,200 shares, a drop of 16.1% from the July 31st total of 162,300 shares. Based on an average daily volume of 39,000 shares, the short-interest ratio is presently 3.5 days. Approximately 2.0% of the shares of the stock are sold short.

Envela Trading Up 1.4 %

Shares of ELA traded up $0.07 during midday trading on Monday, hitting $4.91. The company’s stock had a trading volume of 12,400 shares, compared to its average volume of 35,345. Envela has a one year low of $3.02 and a one year high of $5.57. 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 firm has a market cap of $128.00 million, a price-to-earnings ratio of 20.46 and a beta of 0.15.

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

Institutional Investors Weigh In On Envela

Several hedge funds have recently modified their holdings of ELA. Cubist Systematic Strategies LLC bought a new stake in Envela during the 2nd quarter worth approximately $42,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Envela during the 2nd quarter worth approximately $50,000. Leo Wealth LLC bought a new stake in Envela during the 4th quarter worth approximately $406,000. Renaissance Technologies LLC increased its holdings in 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, Vanguard Group Inc. increased its holdings in Envela by 0.8% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 8.15% of the company’s stock.

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.