Lake Street Capital Forecasts Strong Price Appreciation for Envela (NYSEAMERICAN:ELA) Stock

Envela (NYSEAMERICAN:ELA) had its price target boosted by equities research analysts at Lake Street Capital from $6.00 to $7.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Lake Street Capital’s target price points to a potential upside of 19.25% from the stock’s previous close.

Envela Trading Up 6.0 %

NYSEAMERICAN:ELA opened at $5.87 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.88 and a quick ratio of 2.72. Envela has a 12-month low of $3.02 and a 12-month high of $5.90. The stock has a market cap of $153.03 million, a P/E ratio of 24.46 and a beta of 0.25.

Envela (NYSEAMERICAN:ELA) last announced its quarterly earnings data 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. Envela had a net margin of 4.10% and a return on equity of 13.27%. The business had revenue of $46.90 million during the quarter, compared to analyst estimates of $39.85 million. On average, equities research analysts anticipate that Envela will post 0.21 earnings per share for the current year.

Institutional Trading of Envela

Several hedge funds have recently bought and sold shares of ELA. Vanguard Group Inc. boosted its position in shares of 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 acquiring an additional 3,678 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Envela during the second quarter valued at $50,000. Cubist Systematic Strategies LLC bought a new position in Envela during the second quarter valued at $42,000. Renaissance Technologies LLC grew its stake in shares of Envela by 11.8% in the 2nd quarter. Renaissance Technologies LLC now owns 195,428 shares of the company’s stock worth $877,000 after buying an additional 20,624 shares in the last quarter. Finally, US Bancorp DE bought a new stake in shares of Envela in the 3rd quarter worth about $339,000. Hedge funds and other institutional investors own 8.15% of the company’s stock.

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.