Envela (NYSEAMERICAN:ELA) Reaches New 12-Month High – Still a Buy?

Envela Corporation (NYSEAMERICAN:ELA)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $27.00 and last traded at $26.8950, with a volume of 40786 shares trading hands. The stock had previously closed at $25.64.

Wall Street Analysts Forecast Growth

ELA has been the subject of a number of recent analyst reports. Lake Street Capital reiterated a “buy” rating and issued a $27.00 price target on shares of Envela in a research report on Thursday, May 7th. B. Riley Financial increased their price target on Envela from $14.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, March 19th. Finally, Zacks Research lowered Envela from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Envela presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.

Envela Trading Down 7.7%

The company has a market cap of $658.86 million, a price-to-earnings ratio of 31.33 and a beta of 0.26. The company’s 50 day moving average price is $19.55 and its 200 day moving average price is $15.15. 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 (NYSEAMERICAN:ELA) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.34. Envela had a net margin of 7.19% and a return on equity of 32.00%. The business had revenue of $98.38 million during the quarter, compared to analyst estimates of $98.39 million. Research analysts anticipate that Envela Corporation will post 0.8 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its stake in shares of Envela by 1,213.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 185,382 shares of the company’s stock valued at $2,480,000 after acquiring an additional 171,268 shares in the last quarter. Tradewinds Capital Management LLC bought a new position in shares of Envela in the 4th quarter valued at approximately $36,000. Hillsdale Investment Management Inc. raised its stake in shares of Envela by 308.2% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 47,400 shares of the company’s stock valued at $370,000 after acquiring an additional 35,787 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Envela by 20.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 164,980 shares of the company’s stock valued at $2,749,000 after acquiring an additional 28,049 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of Envela by 100.0% in the 1st quarter. Sei Investments Co. now owns 118,342 shares of the company’s stock valued at $1,972,000 after acquiring an additional 59,171 shares in the last quarter. 8.15% of the stock is owned by institutional investors.

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.