Envela (NYSEAMERICAN:ELA) Stock Price Expected to Rise, B. Riley Analyst Says

Envela (NYSEAMERICAN:ELA) had its price objective hoisted by stock analysts at B. Riley from $10.00 to $11.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s price target suggests a potential upside of 57.82% from the stock’s previous close. B. Riley also issued estimates for Envela’s FY2025 earnings at $0.35 EPS.

Separately, Lake Street Capital boosted their target price on Envela from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th.

Envela Price Performance

NYSEAMERICAN:ELA opened at $6.97 on Wednesday. The stock has a market capitalization of $181.01 million, a P/E ratio of 21.12 and a beta of 0.22. Envela has a 1 year low of $4.40 and a 1 year high of $7.88. The company has a quick ratio of 2.36, a current ratio of 4.58 and a debt-to-equity ratio of 0.17. The stock has a fifty day moving average price of $5.99.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Adamsbrown Wealth Consultants LLC purchased a new stake in shares of Envela in the 2nd quarter worth approximately $61,000. NewEdge Advisors LLC grew its stake in shares of Envela by 1,015.6% in 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 last quarter. Hillsdale Investment Management Inc. purchased a new stake in shares of Envela in the 2nd quarter worth approximately $71,000. New York State Common Retirement Fund purchased a new stake in shares of Envela in the 2nd quarter worth approximately $106,000. Finally, Leo Wealth LLC purchased a new stake in shares of Envela in the 2nd quarter worth approximately $132,000. Hedge funds and other institutional investors own 8.15% of the company’s stock.

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.