Envela (NYSEAMERICAN:ELA) Announces Earnings Results

by · The Cerbat Gem

Envela (NYSEAMERICAN:ELA – Get Free Report) issued its quarterly earnings results on Wednesday. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $56.77 million during the quarter, compared to the consensus estimate of $59.95 million.

Envela Price Performance

ELA stock traded down $3.77 during trading on Thursday, hitting $17.44. 151,974 shares of the stock traded hands, compared to its average volume of 116,663. The stock has a market cap of $452.77 million, a price-to-earnings ratio of 21.54 and a beta of 0.41. Envela has a one year low of $5.74 and a one year high of $29.68. 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 50 day simple moving average of $24.19 and a 200 day simple moving average of $19.22.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ELA. Topline Capital Management LLC lifted its position in Envela by 14.2% during the 2nd quarter. Topline Capital Management LLC now owns 862,433 shares of the company’s stock worth $5,278,000 after buying an additional 107,470 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Envela by 0.6% during the third 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 during the last quarter. Geode Capital Management LLC increased its holdings in shares of Envela by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 149,107 shares of the company’s stock valued at $1,995,000 after purchasing an additional 5,086 shares in the last quarter. Bridgeway Capital Management LLC raised its position in Envela by 16.4% in the 3rd quarter. Bridgeway Capital Management LLC now owns 106,700 shares of the company’s stock worth $833,000 after purchasing an additional 15,000 shares during the last quarter. Finally, Inspire Investing LLC bought a new position in Envela in the 4th quarter worth approximately $1,317,000. Institutional investors own 8.15% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on ELA. Zacks Research lowered Envela from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 28th. B. Riley Financial reduced their price objective on Envela from $24.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Lake Street Capital restated a “buy” rating and issued a $27.00 target price on shares of Envela in a research note on Thursday, May 7th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Envela currently has a consensus rating of “Moderate Buy” and an average target price of $25.00.

View Our Latest Analysis on ELA

Envela Company Profile

(Get Free Report)

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.

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