B. Riley Reaffirms “Buy” Rating for Envela (NYSEAMERICAN:ELA)

Envela (NYSEAMERICAN:ELA)‘s stock had its “buy” rating reissued by analysts at B. Riley in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $14.00 target price on the stock, up from their prior target price of $11.00. B. Riley’s price target would indicate a potential upside of 38.96% from the stock’s current price.

Several other equities analysts also recently issued reports on the stock. Lake Street Capital reissued a “buy” rating and set a $12.00 price target on shares of Envela in a report on Thursday. Zacks Research downgraded Envela from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Envela currently has an average rating of “Moderate Buy” and an average price target of $13.00.

Envela Price Performance

NYSEAMERICAN ELA traded down $0.10 during trading on Monday, reaching $10.08. 43,666 shares of the company traded hands, compared to its average volume of 37,809. Envela has a 1-year low of $5.10 and a 1-year high of $10.94. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.36 and a current ratio of 4.58. The stock’s 50 day moving average price is $8.04 and its two-hundred day moving average price is $6.88. The company has a market cap of $261.65 million, a price-to-earnings ratio of 30.53 and a beta of 0.34.

Envela (NYSEAMERICAN:ELA) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.06 by $0.07. The business had revenue of $57.39 million for the quarter, compared to analyst estimates of $48.99 million. Envela had a return on equity of 15.75% and a net margin of 4.30%. As a group, analysts anticipate that Envela will post 0.24 EPS for the current year.

Institutional Investors Weigh In On Envela

Several hedge funds have recently bought and sold shares of ELA. Adamsbrown Wealth Consultants LLC bought a new position in shares of Envela during the second quarter worth $61,000. NewEdge Advisors LLC raised its stake in Envela by 1,015.6% during the 1st quarter. NewEdge Advisors LLC now owns 10,989 shares of the company’s stock worth $68,000 after buying an additional 10,004 shares during the period. Hillsdale Investment Management Inc. bought a new position in Envela during the second quarter worth about $71,000. Allspring Global Investments Holdings LLC acquired a new position in Envela in the third quarter valued at about $110,000. Finally, New York State Common Retirement Fund acquired a new position in Envela in the second quarter valued at about $106,000. 8.15% of the stock is currently owned by institutional investors and hedge funds.

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.