Argus Equity Report Raises Envela Valuation to $5 Per Share
DALLAS, TX / ACCESSWIRE / June 8, 2020 / Envela Corporation (NYSE American:ELA) (“Envela” or the “Company”) announced that Steve Silver, analyst for Argus Research Co., a leading independent equity research firm since 1934, feels valuation of Envela remains compelling even though the share price has more than doubled year-to-date. In its May 2020 report, Argus raised its fair value estimate of Envela from $4 to $5 per share.
Argus Research is a leading independent equity research firm (est.1934) headquartered in New York City that provides fundamental and quantitative research coverage on more than 1,500 companies across all 11 sectors of the S&P 500, as well as macroeconomic and equity market forecasts, thematic research, model portfolios and pre-IPO research. Argus’s Equity Research and earnings estimates are available on major research / earnings estimate aggregator platforms, including Bloomberg, Thomson Reuters, Factset and S&P Global.
Envela and its subsidiaries engage in diverse business activities within the recommerce sector. These include recommercializing luxury hard assets, consumer electronics and IT equipment; and end-of-life recycling solutions. Envela assesses its inventory of recommerce purchases for their potential to be refurbished and resold as whole goods, or to be recycled for component parts or precious-metal value. Envela also offers comprehensive recycling solutions for a variety of other companies seeking responsibly to dispose of end-of-life products. Envela operates primarily via two recommerce business segments. Through DGSE, LLC the Company recommercializes luxury hard assets via Dallas Gold and Silver Exchange, Charleston Gold & Diamond Exchange, and Bullion Express brands (collectively, “DGSE”). Through ECHG, LLC, the Company operates Echo Environmental Holdings, ITAD USA Holdings, and Teladvance (collectively, “ECHG”), which recommercialize primarily consumer electronics and IT equipment, and provide end-of-life recycling services for various companies across many industries. Envela conducts its recommerce operations at retail and wholesale levels, through distributors, resellers, dedicated stores and online. The Company also owns and operates other businesses and brands engaged in a variety of activities, as identified herein. Envela is a Nevada corporation, headquartered in Dallas, Texas.
Additional information about Envela is available at its investor-relations site, Envela.com.
This press release includes statements that may constitute “forward-looking” statements, including statements regarding the potential future success of business lines and strategies, and its market valuation. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, market conditions and other risks detailed in the Company’s periodic report filings with the Securities and Exchange Commission. By making these statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release except as required by law.
Investor Relations Contact:
Head of Investor Relations
13022 Preston Rd Dallas, TX 75240
SOURCE: Envela Corporation
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