Envela’s (ELA) “Buy” Rating Reiterated at B. Riley

Envela (NYSEAMERICAN:ELA)‘s stock had its “buy” rating reissued by research analysts at B. Riley in a research note issued on Monday,Benzinga reports. They presently have a $14.00 target price on the stock, up from their previous target price of $11.00. B. Riley’s price target would suggest a potential upside of 38.96% from the stock’s current price.

ELA has been the topic of a number of other research reports. Lake Street Capital restated a “buy” rating and issued a $12.00 price target 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 research note on Tuesday, November 4th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Envela currently has an average rating of “Moderate Buy” and a consensus price target of $13.00.

Envela Stock Performance

NYSEAMERICAN ELA traded down $0.10 on Monday, hitting $10.08. 43,666 shares of the stock were exchanged, compared to its average volume of 37,809. The business’s fifty day moving average is $8.04 and its 200 day moving average is $6.88. Envela has a 52 week low of $5.10 and a 52 week high of $10.94. The company has a market capitalization of $261.65 million, a PE ratio of 30.53 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.

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

Institutional Investors Weigh In On Envela

Hedge funds have recently made changes to their positions in the stock. Mink Brook Asset Management LLC increased its holdings in Envela by 13.7% in the first quarter. Mink Brook Asset Management LLC now owns 1,299,523 shares of the company’s stock valued at $8,096,000 after purchasing an additional 156,754 shares during the period. Topline Capital Management LLC increased its stake 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 valued at $5,278,000 after buying an additional 107,470 shares during the period. Vanguard Group Inc. raised its position in shares of Envela by 0.6% during the third quarter. Vanguard Group Inc. now owns 455,034 shares of the company’s stock worth $3,554,000 after acquiring an additional 2,737 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Envela by 116.5% in the second quarter. Geode Capital Management LLC now owns 144,247 shares of the company’s stock valued at $883,000 after acquiring an additional 77,635 shares during the last quarter. Finally, Hillsdale Investment Management Inc. increased its position in Envela by 308.2% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 47,400 shares of the company’s stock valued at $370,000 after purchasing an additional 35,787 shares during the period. 8.15% of the stock is currently owned by institutional investors and hedge funds.

Envela Company 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.