Renaissance Technologies LLC Grows Stock Holdings in Envela Corporation $ELA

Renaissance Technologies LLC raised its holdings in Envela Corporation (NYSEAMERICAN:ELA) by 35.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 261,004 shares of the company’s stock after acquiring an additional 68,900 shares during the period. Renaissance Technologies LLC’s holdings in Envela were worth $4,348,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ELA. Deutsche Bank AG boosted its holdings in shares of Envela by 471.0% during the fourth quarter. Deutsche Bank AG now owns 6,252 shares of the company’s stock worth $84,000 after purchasing an additional 5,157 shares during the last quarter. Wells Fargo & Company MN lifted its position in Envela by 78.1% during 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 period. Baader Bank Aktiengesellschaft acquired a new stake in Envela in the 4th quarter worth about $134,000. NewEdge Advisors LLC grew its holdings in Envela by 1,015.6% in the 1st quarter. NewEdge Advisors LLC now owns 10,989 shares of the company’s stock valued at $68,000 after buying an additional 10,004 shares during the period. Finally, Occudo Quantitative Strategies LP purchased a new stake in Envela in the 4th quarter valued at about $157,000. Hedge funds and other institutional investors own 8.15% of the company’s stock.

Analyst Upgrades and Downgrades

ELA has been the subject of a number of research analyst reports. Zacks Research downgraded shares of Envela from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 28th. B. Riley Financial lowered their target price on shares of Envela from $24.00 to $23.00 and set a “buy” rating for the company in a report on Thursday. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $27.00 price target on shares of Envela in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $25.00.

Envela Stock Performance

Shares of NYSEAMERICAN:ELA opened at $18.03 on Friday. The firm has a market capitalization of $468.06 million, a PE ratio of 20.97 and a beta of 0.41. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.52 and a quick ratio of 1.97. The business has a 50-day moving average of $24.00 and a two-hundred day moving average of $19.24. Envela Corporation has a 12 month low of $5.74 and a 12 month high of $29.68.

Envela (NYSEAMERICAN:ELA) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Envela had a return on equity of 32.89% and a net margin of 7.63%.The company had revenue of $56.77 million for the quarter, compared to the consensus estimate of $59.94 million. As a group, research analysts forecast that Envela Corporation will post 0.8 earnings per share for the current year.

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.