Envela Corporation (NYSEAMERICAN:ELA – Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $18.10 and traded as high as $23.98. Envela shares last traded at $22.68, with a volume of 106,900 shares trading hands.
Analyst Ratings Changes
A number of equities research analysts have weighed in on ELA shares. Zacks Research upgraded Envela from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. Lake Street Capital reiterated a “buy” rating and issued a $27.00 price objective on shares of Envela in a report on Thursday, May 7th. Finally, B. Riley Financial increased their price objective on Envela from $14.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, March 19th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $22.50.
Read Our Latest Stock Report on Envela
Envela Trading Down 3.5%
Envela (NYSEAMERICAN:ELA – Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.34 EPS for the quarter, hitting the consensus estimate of $0.34. Envela had a return on equity of 32.00% and a net margin of 7.19%.The firm had revenue of $98.38 million for the quarter, compared to the consensus estimate of $98.39 million. Equities analysts expect that Envela Corporation will post 0.8 earnings per share for the current year.
Hedge Funds Weigh In On Envela
A number of large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC lifted its position in Envela by 35.9% in the first quarter. Renaissance Technologies LLC now owns 261,004 shares of the company’s stock valued at $4,348,000 after purchasing an additional 68,900 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Envela by 20.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 164,980 shares of the company’s stock worth $2,749,000 after purchasing an additional 28,049 shares during the last quarter. Sei Investments Co. increased its stake in shares of Envela by 100.0% in the first quarter. Sei Investments Co. now owns 118,342 shares of the company’s stock worth $1,972,000 after buying an additional 59,171 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Envela by 59.1% in the first quarter. Dimensional Fund Advisors LP now owns 86,453 shares of the company’s stock worth $1,441,000 after buying an additional 32,119 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in Envela by 12.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 209,257 shares of the company’s stock valued at $3,486,000 after buying an additional 23,875 shares during the last quarter. 8.15% of the stock is owned by hedge funds and other institutional investors.
About Envela
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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