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

Envela (NYSEAMERICAN:ELA)‘s stock had its “buy” rating reiterated by investment analysts at B. Riley in a note issued to investors on Monday,Benzinga reports. They currently have a $14.00 target price on the stock, up from their prior target price of $11.00. B. Riley’s price objective suggests a potential upside of 26.47% from the stock’s current price. B. Riley also issued estimates for Envela’s FY2025 earnings at $0.42 EPS, FY2026 earnings at $0.45 EPS and FY2027 earnings at $0.53 EPS.

A number of other analysts also recently issued reports on ELA. Zacks Research downgraded shares of Envela from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Lake Street Capital reiterated a “buy” rating and issued a $12.00 price target on shares of Envela in a research note on Thursday, November 6th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $13.00.

Envela Price Performance

NYSEAMERICAN ELA opened at $11.07 on Monday. 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 has a market cap of $287.49 million, a price-to-earnings ratio of 33.55 and a beta of 0.34. The business has a 50 day simple moving average of $8.18 and a 200 day simple moving average of $6.95. Envela has a 52-week low of $5.10 and a 52-week high of $11.35.

Envela (NYSEAMERICAN:ELA) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.07. The company 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%. Analysts anticipate that Envela will post 0.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Envela

Hedge funds have recently bought and sold shares of the company. Adamsbrown Wealth Consultants LLC acquired a new position in shares of Envela during the 2nd quarter worth approximately $61,000. NewEdge Advisors LLC increased its holdings 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 valued at $68,000 after purchasing an additional 10,004 shares during the last quarter. Hillsdale Investment Management Inc. bought a new position in shares of Envela in the second quarter valued at about $71,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Envela during the 3rd quarter worth about $110,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Envela during the 2nd quarter worth 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.