Leo Wealth LLC Takes Position in Envela Corporation $ELA

Leo Wealth LLC acquired a new stake in shares of Envela Corporation (NYSEAMERICAN:ELA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 21,570 shares of the company’s stock, valued at approximately $132,000. Leo Wealth LLC owned about 0.08% of Envela at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Adamsbrown Wealth Consultants LLC bought a new position in shares of Envela during the second quarter valued at about $61,000. NewEdge Advisors LLC grew its stake in shares of Envela by 1,015.6% during the first quarter. NewEdge Advisors LLC now owns 10,989 shares of the company’s stock valued at $68,000 after buying an additional 10,004 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Envela by 82.4% during the first quarter. Goldman Sachs Group Inc. now owns 30,334 shares of the company’s stock valued at $189,000 after buying an additional 13,699 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Envela by 12.1% during the first quarter. Jane Street Group LLC now owns 34,024 shares of the company’s stock valued at $212,000 after buying an additional 3,681 shares during the last quarter. Finally, Ancora Advisors LLC grew its stake in shares of Envela by 32.1% in the first quarter. Ancora Advisors LLC now owns 44,923 shares of the company’s stock worth $280,000 after purchasing an additional 10,923 shares during the last quarter. 8.15% of the stock is owned by institutional investors.

Envela Stock Performance

Envela stock opened at $7.59 on Friday. The stock’s 50 day simple moving average is $7.26 and its two-hundred day simple moving average is $6.53. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.36 and a current ratio of 4.58. The stock has a market cap of $197.11 million, a price-to-earnings ratio of 23.00 and a beta of 0.34. Envela Corporation has a fifty-two week low of $5.10 and a fifty-two week high of $8.36.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ELA shares. B. Riley raised their target price on Envela from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, August 13th. Zacks Research raised Envela from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $10.00.

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.