Envela (NYSEAMERICAN:ELA - Get Free Report) released its quarterly earnings results on Wednesday. The company reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.21, FiscalAI reports. Envela had a return on equity of 33.80% and a net margin of 7.19%.The business had revenue of $98.38 million for the quarter, compared to the consensus estimate of $52.80 million.
Envela Price Performance
Shares of NYSEAMERICAN:ELA traded up $1.35 during mid-day trading on Friday, reaching $24.62. The stock had a trading volume of 137,050 shares, compared to its average volume of 109,692. The business's 50 day moving average price is $16.08 and its 200 day moving average price is $13.51. Envela has a 1 year low of $5.33 and a 1 year high of $25.09. The company has a market cap of $639.14 million, a P/E ratio of 30.40 and a beta of 0.26. The company has a current ratio of 3.50, a quick ratio of 1.63 and a debt-to-equity ratio of 0.03.
Institutional Investors Weigh In On Envela
Hedge funds have recently bought and sold shares of the business. Bridgeway Capital Management LLC raised 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 buying an additional 15,000 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Envela by 107.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 80,669 shares of the company's stock valued at $630,000 after purchasing an additional 41,830 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of Envela by 129.2% during the 4th quarter. NewEdge Advisors LLC now owns 35,833 shares of the company's stock valued at $479,000 after purchasing an additional 20,197 shares during the last quarter. Millennium Management LLC raised its holdings in Envela by 58.9% during the 3rd quarter. Millennium Management LLC now owns 34,026 shares of the company's stock valued at $266,000 after buying an additional 12,614 shares during the period. Finally, O Shaughnessy Asset Management LLC bought a new stake in Envela in the fourth quarter worth $212,000. Hedge funds and other institutional investors own 8.15% of the company's stock.
Analyst Ratings Changes
Several analysts have issued reports on ELA shares. Lake Street Capital reaffirmed a "buy" rating and issued a $27.00 target price on shares of Envela in a research note on Thursday. Zacks Research lowered shares of Envela from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 4th. Finally, B. Riley Financial boosted their price target on shares of Envela from $14.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday, March 19th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $22.50.
Check Out Our Latest Stock 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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