Envela (ELA) Upgraded to Strong Buy: Here's Why

Envela (NYSEAMERICAN:ELA) shares fell 8.2% to $25.2550 on Friday, after closing at $27.51; the stock traded between $25.49 and $25.2550. Analyst actions included Zacks downgrading to “hold,” B. Riley raising its price target to $18, and Lake Street reiterating a $27 target. Envela reported Q1 EPS of $0.34 on $98.38M revenue.

The U.S. Air Force awarded Boeing a $75 million undefinitized contract action to procure BSU-111/B payload delivery units for the GBU-75 JDAM Long Range kits, clearing initial production for the U.S. Navy. Boeing says the weapon uses a wing kit and compact turbojet for 300+ nautical mile range with a 500-pound class payload, after April 2026 Navy tests.

A financial results roundup covers multiple insurers. HCI Group reported Q2 gross premiums earned of $321m and a 22.2% gross loss ratio, plus a completed $80m share buyback. Kingstone posted $15.5m net income and a 70.2% GAAP combined ratio. Kemper took a $460m goodwill impairment. Safety agreed to be acquired by Mapfre for about $1.54b at $105/share.

Anthropic agreed to a $10 billion, six-year deal with Volta Infra Holdings for 133 MW of data center capacity in Norway, according to Bloomberg. The site is operated by Bitdeer and powered by Nvidia’s Vera Rubin chips. Bitdeer shares rose about 23% after the announcement, and the hosting lease is reported to start with about $4.7 billion in revenue.

Guinea selected Glencore Plc as offtaker for bauxite from state-owned Nimba Mining after an international tender, according to Bloomberg and Mines and Geology Minister Bouna Sylla. Contract talks continue. Nimba Mining exported 4 Mt this year, targeting 8-10 Mt by year-end and 12 Mt in 2027. Nimba Mining’s bauxite contract was signed this week.

Diageo, maker of Guinness and Smirnoff, said it will cut costs to save $1 billion over three years under CEO Dave Lewis after weaker sales and profits. For the year to June, net sales fell 3% to $19.6 billion, with North America down 9.1%. Restructuring may affect up to 150 Irish jobs and includes $1.2 billion restructuring costs.