Envela (NYSEAMERICAN:ELA) Price Target Raised to $18.00

Key Points

• B. Riley Financial raised its price target on Envela to $18.00 (from $14.00) and kept a "buy" rating, implying roughly a 12% upside; the stock's consensus is a "Moderate Buy" with an average target of $15.00.
• Envela reported a quarterly EPS beat of $0.23 vs. $0.09 expected and revenue of $80.5M vs. $52.25M, and shares jumped to $16.08 on unusually heavy volume following the results.
• Several institutions increased positions in the fourth quarter (including NewEdge, Inspire and State Street), though institutional ownership remains relatively low at about 8.15%.

Envela (NYSEAMERICAN:ELA - Get Free Report) had its price objective hoisted by research analysts at B. Riley Financial from $14.00 to $18.00 in a report released on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. B. Riley Financial's price target would indicate a potential upside of 11.97% from the company's previous close.

Separately, Zacks Research lowered Envela from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 4th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Envela has a consensus rating of "Moderate Buy" and an average price target of $15.00.

Envela Price Performance

Shares of Envela stock traded up $4.47 on Thursday, hitting $16.08. The company had a trading volume of 1,419,951 shares, compared to its average volume of 107,028. Envela has a 52 week low of $5.10 and a 52 week high of $17.35. The company has a market cap of $417.33 million, a PE ratio of 40.33 and a beta of 0.26. The business has a 50-day simple moving average of $13.27 and a 200-day simple moving average of $11.10. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.19 and a quick ratio of 2.65.

Envela (NYSEAMERICAN:ELA - Get Free Report) last announced its earnings results on Wednesday, March 18th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.09 by $0.14. Envela had a net margin of 4.89% and a return on equity of 18.01%. The company had revenue of $80.50 million during the quarter, compared to analysts' expectations of $52.25 million. Research analysts expect 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 made changes to their positions in ELA. NewEdge Advisors LLC raised its stake in Envela by 129.2% during the 4th quarter. NewEdge Advisors LLC now owns 35,833 shares of the company's stock worth $479,000 after buying an additional 20,197 shares during the period. Occudo Quantitative Strategies LP bought a new stake in shares of Envela in the fourth quarter worth about $157,000. Inspire Investing LLC acquired a new stake in shares of Envela during the fourth quarter worth about $1,317,000. Barclays PLC lifted its holdings in shares of Envela by 6.9% during the 4th quarter. Barclays PLC now owns 13,353 shares of the company's stock valued at $179,000 after purchasing an additional 862 shares in the last quarter. Finally, State Street Corp grew its position in shares of Envela by 18.9% in the 4th quarter. State Street Corp now owns 74,014 shares of the company's stock valued at $990,000 after purchasing an additional 11,780 shares during the period. 8.15% of the stock is owned by institutional investors and hedge funds.

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.

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