Envela (NYSEAMERICAN:ELA) Issues Earnings Results, Beats Expectations By $0.04 EPS

Envela (NYSEAMERICAN:ELA) released its quarterly earnings results on Wednesday. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.12 by $0.04, FiscalAI reports. Envela had a net margin of 7.19% and a return on equity of 32.00%. The company had revenue of $56.77 million for the quarter, compared to analyst estimates of $59.95 million.

Envela Price Performance

NYSEAMERICAN:ELA traded down $0.72 during trading hours on Wednesday, reaching $21.21. 115,292 shares of the company were exchanged, compared to its average volume of 116,329. 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 firm has a market cap of $550.61 million, a PE ratio of 26.19 and a beta of 0.41. Envela has a twelve month low of $5.52 and a twelve month high of $29.68. The stock’s 50-day moving average is $24.30 and its 200-day moving average is $19.17.

Wall Street Analyst Weigh In

ELA has been the subject of a number of analyst reports. Lake Street Capital reiterated a “buy” rating and issued a $27.00 price objective on shares of Envela in a research report on Thursday, May 7th. Zacks Research cut Envela from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.50.

Institutional Trading of Envela

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE lifted its stake in Envela by 8.9% in the 2nd quarter. Bank of America Corp DE now owns 43,906 shares of the company’s stock valued at $269,000 after buying an additional 3,583 shares in the last quarter. Millennium Management LLC lifted its holdings in Envela by 58.9% in the 3rd quarter. Millennium Management LLC now owns 34,026 shares of the company’s stock valued at $266,000 after purchasing an additional 12,614 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in Envela during the 4th quarter worth $212,000. Jane Street Group LLC boosted its stake in Envela by 12.1% during the 1st quarter. Jane Street Group LLC now owns 34,024 shares of the company’s stock worth $212,000 after purchasing an additional 3,681 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings 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 worth $189,000 after buying an additional 13,699 shares in the last quarter. Hedge funds and other institutional investors own 8.15% of the company’s stock.

Envela Company Profile

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.