Envela (NYSEAMERICAN:ELA) Posts Earnings Results, Beats Expectations By $0.07 EPS

Envela (NYSEAMERICAN:ELA) issued its quarterly earnings data on Wednesday. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.06 by $0.07, FiscalAI reports. The business had revenue of $57.39 million for the quarter, compared to the consensus estimate of $48.99 million. Envela had a return on equity of 15.75% and a net margin of 4.30%.

Envela Price Performance

Shares of ELA opened at $10.30 on Friday. The company has a current ratio of 4.58, a quick ratio of 2.36 and a debt-to-equity ratio of 0.17. The company’s fifty day simple moving average is $7.98 and its 200 day simple moving average is $6.85. Envela has a 1-year low of $5.10 and a 1-year high of $10.94. The company has a market cap of $267.49 million, a price-to-earnings ratio of 31.21 and a beta of 0.34.

Institutional Investors Weigh In On Envela

Institutional investors and hedge funds have recently modified their holdings of the company. NewEdge Advisors LLC lifted its stake in Envela by 1,015.6% in the 1st quarter. NewEdge Advisors LLC now owns 10,989 shares of the company’s stock valued at $68,000 after purchasing an additional 10,004 shares during the last quarter. New York State Common Retirement Fund bought a new stake in Envela in the second quarter valued at approximately $106,000. Goldman Sachs Group Inc. lifted its position in shares of Envela by 82.4% in the first quarter. Goldman Sachs Group Inc. now owns 30,334 shares of the company’s stock valued at $189,000 after buying an additional 13,699 shares during the last quarter. Jane Street Group LLC lifted its position in shares of Envela by 12.1% in the first quarter. Jane Street Group LLC now owns 34,024 shares of the company’s stock valued at $212,000 after buying an additional 3,681 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Envela by 8.9% during the 2nd quarter. Bank of America Corp DE now owns 43,906 shares of the company’s stock worth $269,000 after acquiring an additional 3,583 shares during the period. 8.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Zacks Research cut shares of Envela from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Lake Street Capital reaffirmed a “buy” rating and issued a $12.00 target price on shares of Envela in a research report on Thursday. Finally, B. Riley lifted their price target on shares of Envela from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, August 13th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $11.50.

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.