B. Riley Financial Cuts Envela (NYSEAMERICAN:ELA) Price Target to $23.00

Envela (NYSEAMERICAN:ELA) had its price target trimmed by B. Riley Financial from $24.00 to $23.00 in a report issued on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also issued reports on ELA. Zacks Research lowered shares of Envela from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 28th. Lake Street Capital restated a “buy” rating and set a $27.00 price objective on shares of Envela in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Envela has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

Envela Stock Down 4.7%

ELA opened at $17.18 on Thursday. The business has a 50 day moving average of $23.83 and a 200-day moving average of $19.23. The stock has a market capitalization of $445.99 million, a price-to-earnings ratio of 19.98 and a beta of 0.41. The company has a current ratio of 4.24, a quick ratio of 1.97 and a debt-to-equity ratio of 0.03. Envela has a 1-year low of $5.94 and a 1-year high of $29.68.

Envela (NYSEAMERICAN:ELA) last announced its earnings results on Wednesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. The business had revenue of $56.77 million for the quarter, compared to analyst estimates of $56.77 million. Envela had a net margin of 7.63% and a return on equity of 31.49%. As a group, sell-side analysts anticipate that Envela will post 0.8 earnings per share for the current year.

Institutional Trading of Envela

A number of large investors have recently bought and sold shares of the stock. Topline Capital Management LLC raised its stake 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 acquiring an additional 107,470 shares in the last quarter. Vanguard Group Inc. boosted 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 purchasing an additional 2,737 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Envela in the 2nd quarter worth about $11,857,000. Renaissance Technologies LLC grew its holdings in shares of Envela by 35.9% in the 1st quarter. Renaissance Technologies LLC now owns 261,004 shares of the company’s stock worth $4,348,000 after purchasing an additional 68,900 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Envela by 12.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 209,257 shares of the company’s stock worth $3,486,000 after purchasing an additional 23,875 shares during the last quarter. 8.15% of the stock is currently owned by institutional investors.

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.