Hillsdale Investment Management Inc. Buys New Position in Envela Corporation $ELA

Hillsdale Investment Management Inc. bought a new stake in Envela Corporation (NYSEAMERICAN:ELA) during the second quarter, Holdings Channel.com reports. The fund bought 11,613 shares of the company’s stock, valued at approximately $71,000.

Other large investors also recently modified their holdings of the company. Jane Street Group LLC boosted its position in shares of Envela by 12.1% in the first quarter. Jane Street Group LLC now owns 34,024 shares of the company’s stock valued at $212,000 after acquiring an additional 3,681 shares during the period. Adamsbrown Wealth Consultants LLC acquired a new position in Envela during the 2nd quarter valued at $61,000. NewEdge Advisors LLC boosted its holdings in Envela by 1,015.6% in the 1st quarter. NewEdge Advisors LLC now owns 10,989 shares of the company’s stock valued at $68,000 after purchasing an additional 10,004 shares during the period. Ancora Advisors LLC boosted its holdings in Envela by 32.1% in the 1st quarter. Ancora Advisors LLC now owns 44,923 shares of the company’s stock valued at $280,000 after purchasing an additional 10,923 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in Envela by 82.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 30,334 shares of the company’s stock worth $189,000 after purchasing an additional 13,699 shares during the last quarter. 8.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on ELA shares. Lake Street Capital reaffirmed a “buy” rating and set a $12.00 price objective on shares of Envela in a research report on Thursday, November 6th. B. Riley reissued a “buy” rating and set a $14.00 target price (up from $11.00) on shares of Envela in a research report on Monday, November 10th. Finally, Zacks Research lowered Envela from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $13.00.

Envela Trading Up 2.4%

Shares of Envela stock opened at $10.74 on Tuesday. Envela Corporation has a 52-week low of $5.10 and a 52-week high of $11.37. The firm has a market capitalization of $278.92 million, a PE ratio of 32.55 and a beta of 0.34. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.58 and a quick ratio of 2.36. The company’s fifty day moving average price is $8.75 and its two-hundred day moving average price is $7.20.

Envela (NYSEAMERICAN:ELA) last issued its earnings results on Wednesday, November 5th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.07. The business had revenue of $57.39 million for the quarter, compared to analyst estimates of $48.99 million. Envela had a net margin of 4.30% and a return on equity of 15.75%. On average, analysts expect that Envela Corporation will post 0.24 EPS for the current year.

Envela Profile

Envela Corporation, together with its subsidiaries, operates in the re-commerce sector in the United States. The company operates through two segments, Commercial-Services and Direct-To-Consumer. It provides end-of-life asset recycling; data destruction and IT asset management; and products, services, and solutions to industrial and commercial companies, as well as operates as a re-commerce retailers of luxury hard assets.