Envela Corporation (NYSEAMERICAN:ELA – Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.46 and traded as high as $17.88. Envela shares last traded at $17.45, with a volume of 99,417 shares.
Analysts Set New Price Targets
Several research analysts recently commented on the stock. Zacks Research downgraded shares of Envela from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 4th. B. Riley Financial boosted their price objective on shares of Envela from $14.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, March 19th. Finally, Lake Street Capital upped their target price on shares of Envela from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, March 19th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.50.
Get Our Latest Analysis on ELA
Envela Trading Up 0.2%
Envela (NYSEAMERICAN:ELA – Get Free Report) last issued its quarterly earnings data on Wednesday, March 18th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.14. Envela had a return on equity of 24.22% and a net margin of 6.06%.The company had revenue of $80.50 million for the quarter, compared to the consensus estimate of $52.25 million. On average, research analysts forecast that Envela Corporation will post 0.24 earnings per share for the current fiscal year.
Institutional Trading of Envela
Institutional investors have recently modified their holdings of the company. Topline Capital Management LLC raised its stake in shares of Envela by 14.2% during the 2nd quarter. Topline Capital Management LLC now owns 862,433 shares of the company’s stock worth $5,278,000 after acquiring an additional 107,470 shares in the last quarter. Vanguard Group Inc. boosted its stake in Envela by 0.6% in the third quarter. Vanguard Group Inc. now owns 455,034 shares of the company’s stock valued at $3,554,000 after acquiring an additional 2,737 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Envela by 1,213.5% in the fourth 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. Geode Capital Management LLC grew its holdings in Envela by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 149,107 shares of the company’s stock worth $1,995,000 after purchasing an additional 5,086 shares during the last quarter. Finally, Bridgeway Capital Management LLC grew 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 worth $833,000 after purchasing an additional 15,000 shares during the last quarter. 8.15% of the stock is currently owned by 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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