Envela (NYSEAMERICAN:ELA) Trading 1.9% Higher – Here’s What Happened

Envela Co. (NYSEAMERICAN:ELA) traded up 1.9% on Thursday . The stock traded as high as $7.40 and last traded at $7.36. 15,523 shares changed hands during trading, a decline of 48% from the average session volume of 29,882 shares. The stock had previously closed at $7.22.

Wall Street Analyst Weigh In

Separately, Lake Street Capital upped their price target on Envela from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th.

Envela Price Performance

The company has a market capitalization of $191.36 million, a PE ratio of 30.67 and a beta of 0.31. The company has a current ratio of 4.76, a quick ratio of 2.08 and a debt-to-equity ratio of 0.25.

Envela (NYSEAMERICAN:ELA) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share 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 3.83% and a return on equity of 13.01%. On average, analysts anticipate that Envela Co. will post 0.24 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ELA. Barclays PLC raised its stake in shares of Envela by 113.7% in the third quarter. Barclays PLC now owns 5,025 shares of the company’s stock worth $28,000 after purchasing an additional 2,674 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in Envela in the 2nd quarter worth about $42,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Envela in the 2nd quarter worth about $50,000. US Bancorp DE purchased a new stake in shares of Envela during the 3rd quarter valued at about $339,000. Finally, Renaissance Technologies LLC raised its holdings in shares of Envela by 11.8% during the second quarter. Renaissance Technologies LLC now owns 195,428 shares of the company’s stock valued at $877,000 after purchasing an additional 20,624 shares during the last quarter. 8.15% of the stock is owned by hedge funds and other institutional investors.

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.