B. Riley Has Bullish Outlook for Envela FY2024 Earnings

Envela Co. (NYSEAMERICAN:ELA) – Equities research analysts at B. Riley increased 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 anticipates 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.

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

Envela Stock Performance

NYSEAMERICAN ELA opened at $5.87 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.72 and a current ratio of 5.88. Envela has a 1 year low of $3.02 and a 1 year high of $5.90. The stock has a market cap of $153.03 million, a price-to-earnings ratio of 24.46 and a beta of 0.25.

Envela (NYSEAMERICAN:ELA) last released its earnings results on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.03 by $0.03. The business 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%.

Institutional Trading of Envela

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC bought a new stake in Envela in the second quarter valued at about $42,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Envela during the 2nd quarter worth approximately $50,000. US Bancorp DE acquired a new stake in Envela in the 3rd quarter valued at $339,000. Renaissance Technologies LLC lifted 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 acquiring an additional 20,624 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Envela by 0.8% in the 1st 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 during the last quarter. 8.15% of the stock is currently 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.