Envela (NYSEAMERICAN:ELA) Price Target Raised to $7.00 at Lake Street Capital

Envela (NYSEAMERICAN:ELA) had its price objective hoisted by Lake Street Capital from $6.00 to $7.00 in a research report report published on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Envela Trading Up 10.1 %

Shares of ELA stock opened at $5.90 on Wednesday. Envela has a 52-week low of $3.02 and a 52-week high of $5.90. The company has a current ratio of 5.88, a quick ratio of 2.72 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $153.81 million, a P/E ratio of 24.58 and a beta of 0.25.

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

Hedge Funds Weigh In On Envela

A number of large investors have recently added to or reduced their stakes in ELA. Cubist Systematic Strategies LLC purchased a new stake in Envela during the 2nd quarter valued at $42,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Envela during the second quarter worth about $50,000. US Bancorp DE purchased a new position in Envela during the 3rd quarter valued at about $339,000. Renaissance Technologies LLC increased its holdings in Envela by 11.8% during the 2nd 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 period. Finally, Vanguard Group Inc. raised its position 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 purchasing an additional 3,678 shares during the last quarter. Hedge funds and other institutional investors own 8.15% of the company’s stock.

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.