Argus Equity Report Raises Envela Valuation to $7 Per Share

Rhea-AI Summary

Envela Corporation (NYSE American: ELA) has garnered an upgraded valuation from Argus Research, with their fair value estimate rising from $5 to $7 per share, as outlined in their September 2020 report. This reassessment highlights Envela's strong positioning within the recommerce sector and its diverse operations in luxury hard assets and recycling solutions. Envela operates primarily via DGSE and ECHG segments, offering recommercialization and recycling services across various industries. The company continues to attract attention for its growth potential and market strategies.

Positive

• Argus Research raised Envela's fair value estimate from $5 to $7 per share.
• Envela is positioned for continued growth within the recommerce sector.
• The company's diverse operations enhance its market presence and potential revenue streams.

Negative

• None.

DALLAS, TX / ACCESSWIRE / September 9, 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 Envela remains uniquely positioned for continued growth. In its September 2020 report, Argus raised its fair value estimate of Envela from $5 to $7 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.

About Envela
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.

Forward-Looking Statements
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:
David Vadala
Head of Investor Relations
Envela Corporation
13022 Preston Rd Dallas, TX 75240
972.587.4030

SOURCE: Envela Corporation

View source version on accesswire.com:
https://www.accesswire.com/605317/Argus-Equity-Report-Raises-Envela-Valuation-to-7-Per-Share

FAQ

What is the new fair value estimate for Envela Corporation (ELA)?

Argus Research raised Envela Corporation's fair value estimate from $5 to $7 per share.

What sectors does Envela Corporation (ELA) operate in?

Envela Corporation operates in the recommerce sector, focusing on luxury hard assets and recycling solutions.

Who conducted the equity research report for Envela Corporation (ELA)?

The equity research report for Envela Corporation was conducted by Argus Research.

When was the valuation report for Envela Corporation (ELA) released?

The valuation report for Envela Corporation was released in September 2020.