Envela (NYSEAMERICAN:ELA) Announces Earnings Results, Beats Expectations By $0.21 EPS

Envela (NYSEAMERICAN:ELA) released its earnings results on Wednesday. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.21, FiscalAI reports. Envela had a net margin of 7.19% and a return on equity of 33.80%. The firm had revenue of $98.38 million during the quarter, compared to the consensus estimate of $52.80 million.

Envela Trading Up 5.8%

ELA traded up $1.35 during trading on Friday, hitting $24.62. 137,050 shares of the company’s stock were exchanged, compared to its average volume of 94,544. The company has a current ratio of 3.50, a quick ratio of 1.63 and a debt-to-equity ratio of 0.03. Envela has a 1 year low of $5.33 and a 1 year high of $25.09. The stock has a 50 day moving average price of $16.08 and a 200 day moving average price of $13.51. The firm has a market cap of $639.14 million, a P/E ratio of 30.40 and a beta of 0.26.

Institutional Investors Weigh In On Envela

Several institutional investors have recently bought and sold shares of ELA. Topline Capital Management LLC grew its stake in Envela by 14.2% during 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. Inspire Investing LLC purchased a new position in shares of Envela in the fourth quarter valued at $1,317,000. Informed Momentum Co LLC purchased a new position in shares of Envela in the fourth quarter valued at $1,300,000. Geode Capital Management LLC boosted its stake in shares of Envela by 116.5% in the second quarter. Geode Capital Management LLC now owns 144,247 shares of the company’s stock valued at $883,000 after purchasing an additional 77,635 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Envela by 107.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 80,669 shares of the company’s stock valued at $630,000 after purchasing an additional 41,830 shares during the period. 8.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ELA. Lake Street Capital restated a “buy” rating and issued a $27.00 target price on shares of Envela in a report on Thursday. Zacks Research downgraded shares of Envela from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Finally, B. Riley Financial boosted their price objective on shares of Envela from $14.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, March 19th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $22.50.

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.