Envela (NYSEAMERICAN:ELA) Stock Rating Upgraded by Zacks Research

Envela (NYSEAMERICAN:ELA) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Several other equities analysts have also issued reports on ELA. B. Riley Financial raised their price objective on Envela from $14.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, March 19th. Lake Street Capital restated a “buy” rating and set a $27.00 price target on shares of Envela in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $22.50.

Envela Trading Up 0.9%

Shares of Envela stock opened at $28.88 on Monday. The company has a current ratio of 3.52, a quick ratio of 1.97 and a debt-to-equity ratio of 0.03. The company has a fifty day simple moving average of $23.81 and a 200-day simple moving average of $17.52. The stock has a market cap of $749.72 million, a price-to-earnings ratio of 35.65 and a beta of 0.40. Envela has a 12-month low of $5.42 and a 12-month high of $29.68.

Envela (NYSEAMERICAN:ELA) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.34 EPS for the quarter, hitting the consensus estimate of $0.34. Envela had a net margin of 7.19% and a return on equity of 32.00%. The firm had revenue of $98.38 million for the quarter, compared to analyst estimates of $98.39 million. On average, equities analysts forecast that Envela will post 0.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ELA. Tradewinds Capital Management LLC purchased a new stake in shares of Envela in the fourth quarter valued at about $36,000. NewEdge Advisors LLC grew its holdings 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 worth $68,000 after buying an additional 10,004 shares during the last quarter. Deutsche Bank AG increased its position in Envela by 471.0% in the 4th quarter. Deutsche Bank AG now owns 6,252 shares of the company’s stock valued at $84,000 after acquiring an additional 5,157 shares during the period. Wells Fargo & Company MN increased its position in Envela by 78.1% in the 4th quarter. Wells Fargo & Company MN now owns 7,275 shares of the company’s stock valued at $97,000 after acquiring an additional 3,191 shares during the period. Finally, New York State Common Retirement Fund purchased a new stake in Envela during the 2nd quarter valued at approximately $106,000. 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.