Envela (NYSEAMERICAN:ELA) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Envela (NYSEAMERICAN:ELA) released its quarterly earnings data on Wednesday. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02, FiscalAI reports. The company had revenue of $56.77 million for the quarter, compared to the consensus estimate of $59.94 million. Envela had a return on equity of 32.89% and a net margin of 7.63%.

Envela Price Performance

Envela stock traded down $0.22 during midday trading on Friday, reaching $17.81. 42,400 shares of the stock were exchanged, compared to its average volume of 117,110. The firm has a market cap of $462.37 million, a PE ratio of 20.72 and a beta of 0.41. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.97 and a current ratio of 3.52. Envela has a 52 week low of $5.94 and a 52 week high of $29.68. The company’s fifty day moving average is $24.00 and its 200-day moving average is $19.24.

Institutional Trading of Envela

Hedge funds have recently added to or reduced their stakes in the business. 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 worth $5,278,000 after buying an additional 107,470 shares during the period. Vanguard Group Inc. grew its position in shares of Envela by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 455,034 shares of the company’s stock worth $3,554,000 after buying an additional 2,737 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Envela by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 149,107 shares of the company’s stock valued at $1,995,000 after acquiring an additional 5,086 shares in the last quarter. Bridgeway Capital Management LLC boosted its holdings in Envela by 16.4% in the third quarter. Bridgeway Capital Management LLC now owns 106,700 shares of the company’s stock valued at $833,000 after acquiring an additional 15,000 shares in the last quarter. Finally, Inspire Investing LLC purchased a new position in Envela during the 4th quarter valued at $1,317,000. 8.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. B. Riley Financial lowered their price objective on Envela from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday. Lake Street Capital reiterated a “buy” rating and issued a $27.00 target price on shares of Envela in a report on Thursday, May 7th. Finally, Zacks Research downgraded shares of Envela from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 28th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Envela has an average rating of “Moderate Buy” and a consensus price target of $25.00.

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.