Lake Street lowered the firm’s price target on Envela to $6 from $8 and keeps a Buy rating on the shares following “another top line miss.” Lower bullion retail sales, a trend seen at the U.S. Mint and other bullion retailers, are likely to persist and the firm is “adjusting our model accordingly,” the analyst tells investors in a post-earnings note.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ELA: