Envela (ELA) Expected to Announce Quarterly Earnings on Wednesday

Envela (NYSEAMERICAN:ELA) is expected to be issuing its results after the market closes on Wednesday, May 6th. Analysts expect the company to announce earnings of $0.13 per share and revenue of $52.8030 million for the quarter.

Envela (NYSEAMERICAN:ELA) last issued its earnings results on Wednesday, March 18th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.14. The firm had revenue of $80.50 million for the quarter, compared to analysts’ expectations of $52.25 million. Envela had a return on equity of 24.22% and a net margin of 6.06%. On average, analysts expect Envela to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Envela Stock Performance

Shares of NYSEAMERICAN:ELA opened at $17.80 on Monday. The company has a market capitalization of $462.09 million, a price-to-earnings ratio of 31.23 and a beta of 0.26. The firm’s 50 day simple moving average is $15.68 and its 200 day simple moving average is $13.25. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.50 and a quick ratio of 1.63. Envela has a fifty-two week low of $5.33 and a fifty-two week high of $18.98.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ELA. Zacks Research cut shares of Envela from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 4th. B. Riley Financial boosted their target price on Envela from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, March 19th. Finally, Lake Street Capital increased their price target on Envela from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, March 19th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

Institutional Trading of Envela

Hedge funds and other institutional investors have recently made changes to their positions in the business. Topline Capital Management LLC boosted its holdings in Envela by 14.2% during the second quarter. Topline Capital Management LLC now owns 862,433 shares of the company’s stock worth $5,278,000 after purchasing an additional 107,470 shares during the last quarter. Inspire Investing LLC bought a new stake in Envela during the 4th quarter worth about $1,317,000. Informed Momentum Co LLC bought a new stake in Envela during the 4th quarter worth about $1,300,000. Geode Capital Management LLC boosted its stake in shares of Envela by 116.5% during the 2nd quarter. Geode Capital Management LLC now owns 144,247 shares of the company’s stock worth $883,000 after buying an additional 77,635 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Envela by 107.7% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 80,669 shares of the company’s stock worth $630,000 after buying an additional 41,830 shares during the last quarter. 8.15% of the stock is currently owned by institutional investors and hedge funds.

About Envela

Envela Corporation is a technology-enabled asset recovery and monetization company that specializes in the acquisition, refurbishment and resale of pre-owned consumer electronics and jewelry, as well as the manufacture and distribution of industrial diamonds. Through its integrated platform, the company sources assets from individuals, retailers and corporate clients, employing proprietary software and physical channel operations to optimize value recovery across multiple product categories.

Originally founded as American Jewelry Liquidators, the business rebranded as Envela in 2018 to reflect its broader strategic focus beyond jewelry.