Envela (NYSEAMERICAN:ELA) Stock Price Expected to Rise, Lake Street Capital Analyst Says

Envela (NYSEAMERICAN:ELA) had its price target increased by investment analysts at Lake Street Capital from $6.00 to $7.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Lake Street Capital’s target price indicates a potential upside of 20.69% from the company’s current price.

Envela Trading Up 8.2 %

NYSEAMERICAN:ELA traded up $0.44 during mid-day trading on Wednesday, hitting $5.80. 24,103 shares of the company’s stock traded hands, compared to its average volume of 30,137. Envela has a twelve month low of $3.02 and a twelve month high of $5.82. The firm has a market capitalization of $151.21 million, a P/E ratio of 23.63 and a beta of 0.25. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.88 and a quick ratio of 2.72.

Envela (NYSEAMERICAN:ELA) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. The business had revenue of $46.90 million for the quarter, compared to analysts’ expectations of $39.85 million. Envela had a net margin of 4.10% and a return on equity of 13.27%. On average, research analysts predict that Envela will post 0.21 earnings per share for the current fiscal year.

Institutional Trading of Envela

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Envela by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 453,065 shares of the company’s stock valued at $2,093,000 after acquiring an additional 3,678 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Envela by 11.8% in the second quarter. Renaissance Technologies LLC now owns 195,428 shares of the company’s stock valued at $877,000 after acquiring an additional 20,624 shares during the last quarter. US Bancorp DE purchased a new stake in shares of Envela during the 3rd quarter worth about $339,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Envela during the 2nd quarter worth $50,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Envela in the second quarter valued at approximately $42,000. 8.15% of the stock is owned by hedge funds and other institutional investors.

About Envela

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.