Envela (NYSEAMERICAN:ELA) Issues Earnings Results

Envela (NYSEAMERICAN:ELA) announced its quarterly earnings results on Wednesday. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.14, FiscalAI reports. Envela had a net margin of 4.89% and a return on equity of 18.01%. The company had revenue of $80.50 million during the quarter, compared to the consensus estimate of $52.25 million.

Envela Stock Down 4.2%

Envela stock opened at $11.61 on Thursday. Envela has a 52 week low of $5.10 and a 52 week high of $15.11. The stock has a market cap of $301.40 million, a price-to-earnings ratio of 29.03 and a beta of 0.26. The company’s 50-day moving average price is $13.27 and its two-hundred day moving average price is $11.10. The company has a current ratio of 5.19, a quick ratio of 2.65 and a debt-to-equity ratio of 0.16.

Wall Street Analysts Forecast Growth

Separately, Zacks Research downgraded shares of Envela from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC increased its stake in shares of Envela by 129.2% during the fourth quarter. NewEdge Advisors LLC now owns 35,833 shares of the company’s stock valued at $479,000 after acquiring an additional 20,197 shares during the period. Occudo Quantitative Strategies LP bought a new position in Envela during the 4th quarter valued at $157,000. Inspire Investing LLC acquired a new position in shares of Envela during the 4th quarter valued at $1,317,000. Barclays PLC raised its stake in shares of Envela by 6.9% in the 4th quarter. Barclays PLC now owns 13,353 shares of the company’s stock worth $179,000 after buying an additional 862 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Envela by 18.9% in the 4th quarter. State Street Corp now owns 74,014 shares of the company’s stock worth $990,000 after buying an additional 11,780 shares in the last quarter. 8.15% of the stock is currently owned by institutional investors.

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.