Envela price target lowered to $6 from $8 at Lake Street

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.