Envela Corporation $ELA Shares Acquired by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments boosted its stake in Envela by 1,213.5% in Q4, adding 171,268 shares to hold 185,382 shares (≈0.71% of the company) valued at about $2.48 million, and several other hedge funds also increased positions leaving institutional ownership near 8.15%.
• Envela beat expectations with Q results (EPS $0.23 vs. $0.09; revenue $80.5M vs. $52.25M), spurring analyst upgrades (B. Riley to $18, Lake Street to $15) and a MarketBeat consensus of "Moderate Buy" with an average target of $16.50, while the stock trades around $17.08 near its 52‑week high.

Allspring Global Investments Holdings LLC increased its stake in Envela Corporation (NYSEAMERICAN:ELA - Free Report) by 1,213.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 185,382 shares of the company's stock after acquiring an additional 171,268 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.71% of Envela worth $2,480,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ELA. Topline Capital Management LLC boosted its position in shares of Envela by 14.2% in 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 during the last quarter. Geode Capital Management LLC boosted its position in shares of Envela by 116.5% in the second quarter. Geode Capital Management LLC now owns 144,247 shares of the company's stock worth $883,000 after acquiring an additional 77,635 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Envela by 107.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 80,669 shares of the company's stock worth $630,000 after acquiring an additional 41,830 shares during the last quarter. Hillsdale Investment Management Inc. boosted its position in shares of Envela by 308.2% in the third quarter. Hillsdale Investment Management Inc. now owns 47,400 shares of the company's stock worth $370,000 after acquiring an additional 35,787 shares during the last quarter. Finally, Bailard Inc. acquired a new stake in shares of Envela in the third quarter worth approximately $174,000. 8.15% of the stock is owned by institutional investors and hedge funds.

Envela Trading Up 1.8%

NYSEAMERICAN ELA opened at $17.08 on Thursday. The company's fifty day simple moving average is $14.21 and its 200-day simple moving average is $12.09. Envela Corporation has a 52 week low of $5.33 and a 52 week high of $18.29. The company has a current ratio of 3.50, a quick ratio of 1.63 and a debt-to-equity ratio of 0.03. The stock has a market cap of $443.40 million, a P/E ratio of 29.96 and a beta of 0.16.

Envela (NYSEAMERICAN:ELA - Get Free Report) last posted its earnings results on Wednesday, March 18th. The company reported $0.23 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.14. Envela had a net margin of 6.06% and a return on equity of 24.22%. The business had revenue of $80.50 million for the quarter, compared to analysts' expectations of $52.25 million. Equities research analysts predict that Envela Corporation will post 0.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ELA. B. Riley Financial raised their target price on shares of Envela from $14.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, March 19th. Zacks Research cut shares of Envela from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 4th. Finally, Lake Street Capital lifted their price target on shares of Envela from $12.00 to $15.00 and gave the company a "buy" rating in a research report on Thursday, March 19th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $16.50.

Envela 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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