Barclays PLC Acquires 2,674 Shares of Envela Co. (NYSEAMERICAN:ELA)

Barclays PLC grew its holdings in Envela Co. (NYSEAMERICAN:ELA) by 113.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,025 shares of the company’s stock after purchasing an additional 2,674 shares during the quarter. Barclays PLC’s holdings in Envela were worth $28,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Renaissance Technologies LLC boosted its stake in Envela by 11.8% during the 2nd quarter. Renaissance Technologies LLC now owns 195,428 shares of the company’s stock worth $877,000 after acquiring an additional 20,624 shares during the last quarter. US Bancorp DE bought a new position in Envela during the 3rd quarter worth approximately $339,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Envela during the 2nd quarter worth approximately $50,000. Finally, Cubist Systematic Strategies LLC bought a new position in Envela during the 2nd quarter worth approximately $42,000. Institutional investors own 8.15% of the company’s stock.

Analysts Set New Price Targets

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

Envela Stock Performance

Shares of ELA stock opened at $7.08 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.08 and a current ratio of 4.76. The company has a market cap of $184.08 million, a price-to-earnings ratio of 29.50 and a beta of 0.31. Envela Co. has a 52 week low of $4.15 and a 52 week high of $7.88.

Envela (NYSEAMERICAN:ELA) last announced its earnings results on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.03 by $0.03. The firm had revenue of $46.90 million for the quarter, compared to the consensus estimate of $39.85 million. Envela had a net margin of 3.83% and a return on equity of 13.01%. On average, analysts predict that Envela Co. will post 0.24 earnings per share for the current year.

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.