B. Riley Has Bullish Outlook for Envela FY2024 Earnings

Envela Co. (NYSEAMERICAN:ELA - Free Report) - B. Riley lifted their FY2024 earnings estimates for Envela in a research report issued to clients and investors on Tuesday, November 5th. B. Riley analyst J. Van. Sinderen now expects that the company will earn $0.24 per share for the year, up from their previous forecast of $0.21. The consensus estimate for Envela's current full-year earnings is $0.21 per share. B. Riley also issued estimates for Envela's Q4 2024 earnings at $0.04 EPS and FY2026 earnings at $0.40 EPS.

Envela (NYSEAMERICAN:ELA - Get Free Report) last posted its earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.03. The firm had revenue of $46.90 million during the quarter, compared to analyst estimates of $39.85 million. Envela had a net margin of 4.10% and a return on equity of 13.27%.

Separately, Lake Street Capital upped their target price on Envela from $6.00 to $7.00 and gave the stock a "buy" rating in a research report on Wednesday.

Envela Trading Up 6.0 %

Shares of NYSEAMERICAN:ELA traded up $0.33 on Thursday, hitting $5.87. The company's stock had a trading volume of 14,261 shares, compared to its average volume of 30,085. Envela has a 12 month low of $3.02 and a 12 month high of $5.90. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.72 and a current ratio of 5.88. The stock has a market cap of $153.03 million, a price-to-earnings ratio of 24.58 and a beta of 0.25.

Institutional Trading of Envela

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Envela by 0.8% in the first quarter. Vanguard Group Inc. now owns 453,065 shares of the company's stock worth $2,093,000 after purchasing an additional 3,678 shares in the last quarter. Renaissance Technologies LLC increased its stake in Envela by 11.8% in the 2nd quarter. Renaissance Technologies LLC now owns 195,428 shares of the company's stock valued at $877,000 after buying an additional 20,624 shares during the period. US Bancorp DE acquired a new stake in Envela during the third quarter valued at $339,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Envela in the second quarter valued at about $50,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Envela in the 2nd quarter worth about $42,000. 8.15% of the stock is owned by institutional investors and hedge funds.

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.