Envela (NYSEAMERICAN:ELA) Stock Rating Lowered by Zacks Research

Envela (NYSEAMERICAN:ELA) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

Separately, Lake Street Capital reaffirmed a “buy” rating and set a $27.00 price target on shares of Envela in a research report on Thursday, May 7th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.50.

Envela Stock Down 0.8%

ELA stock opened at $21.22 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.52 and a quick ratio of 1.97. The stock has a market capitalization of $550.87 million, a P/E ratio of 26.20 and a beta of 0.37. The business has a 50-day moving average of $24.51 and a 200-day moving average of $18.95. Envela has a fifty-two week low of $5.42 and a fifty-two week high of $29.68.

Envela (NYSEAMERICAN:ELA) last announced its earnings results on Wednesday, May 6th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.34. The business had revenue of $98.38 million for the quarter, compared to analyst estimates of $98.39 million. Envela had a return on equity of 32.00% and a net margin of 7.19%. On average, sell-side analysts anticipate that Envela will post 0.8 earnings per share for the current fiscal year.

Institutional Trading of Envela

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC raised its holdings in Envela by 1,015.6% during the first quarter. NewEdge Advisors LLC now owns 10,989 shares of the company’s stock worth $68,000 after acquiring an additional 10,004 shares in the last quarter. Deutsche Bank AG boosted its position in Envela by 471.0% during the fourth quarter. Deutsche Bank AG now owns 6,252 shares of the company’s stock valued at $84,000 after purchasing an additional 5,157 shares during the last quarter. Wells Fargo & Company MN grew its stake in Envela by 78.1% in the fourth quarter. Wells Fargo & Company MN now owns 7,275 shares of the company’s stock valued at $97,000 after purchasing an additional 3,191 shares in the last quarter. New York State Common Retirement Fund acquired a new position in shares of Envela during the 2nd quarter worth approximately $106,000. Finally, Baader Bank Aktiengesellschaft acquired a new position in shares of Envela during the 4th quarter worth approximately $134,000. Institutional investors and hedge funds own 8.15% of the company’s stock.

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.