Envela (NYSEAMERICAN:ELA) Hits New 1-Year High – Time to Buy?

Shares of Envela Corporation (NYSEAMERICAN:ELA) hit a new 52-week high on Tuesday . The company traded as high as $29.32 and last traded at $29.1140, with a volume of 17339 shares changing hands. The stock had previously closed at $28.62.

Wall Street Analyst Weigh In

Several equities analysts have commented on ELA shares. Lake Street Capital reiterated a “buy” rating and set a $27.00 price target on shares of Envela in a report on Thursday, May 7th. B. Riley Financial increased their price target on shares of Envela from $14.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, March 19th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Envela presently has an average rating of “Moderate Buy” and a consensus target price of $22.50.

Envela Price Performance

The stock has a market cap of $751.54 million, a price-to-earnings ratio of 35.75 and a beta of 0.39. The company has a quick ratio of 1.97, a current ratio of 3.52 and a debt-to-equity ratio of 0.03. The company’s 50-day moving average is $23.59 and its 200-day moving average is $17.40.

Envela (NYSEAMERICAN:ELA) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.34 earnings per share for the quarter, meeting the consensus estimate of $0.34. Envela had a return on equity of 32.00% and a net margin of 7.19%.The company had revenue of $98.38 million for the quarter, compared to analyst estimates of $98.39 million. Equities research analysts expect that Envela Corporation will post 0.8 earnings per share for the current fiscal year.

Institutional Trading of Envela

A number of large investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its holdings in shares of Envela by 1,213.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 185,382 shares of the company’s stock valued at $2,480,000 after acquiring an additional 171,268 shares during the period. Topline Capital Management LLC grew its holdings in shares of Envela by 14.2% in the 2nd quarter. Topline Capital Management LLC now owns 862,433 shares of the company’s stock worth $5,278,000 after purchasing an additional 107,470 shares during the last quarter. Inspire Investing LLC bought a new stake in shares of Envela in the 4th quarter worth about $1,317,000. Informed Momentum Co LLC acquired a new stake in shares of Envela during the 4th quarter worth about $1,300,000. Finally, Geode Capital Management LLC increased its position in shares of Envela by 116.5% during the 2nd quarter. Geode Capital Management LLC now owns 144,247 shares of the company’s stock worth $883,000 after purchasing an additional 77,635 shares in the last quarter. 8.15% of the stock is currently owned by institutional investors.

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.