Lake Street Capital Boosts Envela (NYSEAMERICAN:ELA) Price Target to $15.00

Envela (NYSEAMERICAN:ELA) had its price objective hoisted by research analysts at Lake Street Capital from $12.00 to $15.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Lake Street Capital’s price target would suggest a potential downside of 1.51% from the company’s current price.

Several other equities analysts also recently commented on ELA. Zacks Research downgraded Envela from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 4th. B. Riley Financial raised their target price on shares of Envela from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $16.50.

Envela Stock Up 31.2%

Shares of ELA traded up $3.62 during trading hours on Thursday, hitting $15.23. 1,883,561 shares of the company were exchanged, compared to its average volume of 116,450. The company has a market cap of $395.37 million, a PE ratio of 38.08 and a beta of 0.26. The firm’s 50 day moving average is $13.27 and its 200-day moving average is $11.10. Envela has a 52 week low of $5.10 and a 52 week high of $17.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.65 and a current ratio of 5.19.

Envela (NYSEAMERICAN:ELA) last issued its quarterly earnings data on Wednesday, March 18th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.14. Envela had a return on equity of 18.01% and a net margin of 4.89%.The business had revenue of $80.50 million for the quarter, compared to the consensus estimate of $52.25 million. On average, equities research analysts forecast that Envela will post 0.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Envela

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Topline Capital Management LLC increased its holdings in Envela by 14.2% in the 2nd quarter. Topline Capital Management LLC now owns 862,433 shares of the company’s stock valued at $5,278,000 after buying an additional 107,470 shares during the period. Vanguard Group Inc. raised its stake in shares of Envela by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 455,034 shares of the company’s stock valued at $3,554,000 after buying an additional 2,737 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Envela by 1,213.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 185,382 shares of the company’s stock worth $2,480,000 after acquiring an additional 171,268 shares during the period. Geode Capital Management LLC boosted its position in shares of Envela by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 149,107 shares of the company’s stock valued at $1,995,000 after acquiring an additional 5,086 shares in the last quarter. Finally, Bridgeway Capital Management LLC boosted its position in shares of Envela by 16.4% during the 3rd quarter. Bridgeway Capital Management LLC now owns 106,700 shares of the company’s stock valued at $833,000 after acquiring an additional 15,000 shares in the last quarter. Institutional investors and hedge funds own 8.15% of the company’s stock.

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.