Envela (NYSEAMERICAN:ELA) Shares Down 8.2% – Should You Sell?

Shares of Envela Corporation (NYSEAMERICAN:ELA) fell 8.2% on Friday . The stock traded as low as $25.49 and last traded at $25.2550. 113,572 shares changed hands during trading, an increase of 1% from the average session volume of 112,310 shares. The stock had previously closed at $27.51.

Analyst Ratings Changes

Several brokerages have recently weighed in on ELA. Zacks Research lowered shares of Envela from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 4th. B. Riley Financial increased their price objective on shares of Envela from $14.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, March 19th. Finally, Lake Street Capital reiterated a “buy” rating and set a $27.00 price objective on shares of Envela in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Envela presently has an average rating of “Moderate Buy” and a consensus price target of $22.50.

Envela Price Performance

The stock has a market cap of $658.86 million, a PE ratio of 31.16 and a beta of 0.26. The company’s fifty day moving average is $19.55 and its 200 day moving average is $15.15. The company has a quick ratio of 1.97, a current ratio of 3.52 and a debt-to-equity ratio of 0.03.

Envela (NYSEAMERICAN:ELA) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.34 EPS for the quarter, hitting analysts’ consensus estimates of $0.34. Envela had a net margin of 7.19% and a return on equity of 32.00%. The firm had revenue of $98.38 million for the quarter, compared to analyst estimates of $98.39 million. As a group, sell-side analysts anticipate that Envela Corporation will post 0.8 earnings per share for the current fiscal year.

Institutional Trading of Envela

A number of hedge funds and other institutional investors have recently made changes to their positions in ELA. Tradewinds Capital Management LLC bought a new stake in shares of Envela in the fourth quarter worth $36,000. NewEdge Advisors LLC increased its stake in shares of Envela by 1,015.6% in the first 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 last quarter. Deutsche Bank AG increased its stake in shares of Envela by 471.0% in the fourth quarter. Deutsche Bank AG now owns 6,252 shares of the company’s stock worth $84,000 after buying an additional 5,157 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Envela by 78.1% in the fourth quarter. Wells Fargo & Company MN now owns 7,275 shares of the company’s stock worth $97,000 after buying an additional 3,191 shares during the last quarter. Finally, New York State Common Retirement Fund bought a new stake in shares of Envela in the second quarter worth $106,000. Institutional investors own 8.15% of the company’s stock.

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.