DALLAS, TX / January 15, 2020 / Envela Corporation (NYSE American:ELA) (“Envela” or the “Company”) announced today that Argus Research Co., a leading independent equity research firm since 1934, kicked off its Equity Report coverage of Envela on January 10, 2020, with an initial fair value estimate of $4 per share.
Argus Analyst Steve Silver opined that Envela shares are extremely undervalued on both price/sales and price/earnings bases, and expected the valuation gap compared with relevant benchmarks to converge in the coming years. The Argus Equity Report of Envela is available on major research platforms, including Bloomberg, Thomson Reuters, Factset and S&P Global.
“We’ve worked hard during the last two years to bring the Company back to profitability and set a course for future success through diversified revenue streams,” said John Loftus, Envela’s Chairman and CEO. “It’s rewarding to see that analysts are noticing,” added Loftus.
Envela and its subsidiaries engage in diverse business activities within the recommerce sector. These include one of the nation’s premier authenticated recommerce retailers of luxury hard assets; end-of-life asset recycling; data destruction and IT asset management; and providers of products, services and solutions to industrial and commercial companies.
Envela operates primarily via two business segments. Through DGSE, LLC, the Company will operate its Dallas Gold and Silver Exchange, Charleston Gold & Diamond Exchange, and Bullion Express brands. Under ECHG, LLC, it will operate Echo Environmental, ITAD USA and Teladvance. Envela is a Nevada corporation, headquartered in Dallas, Texas.
This press release includes statements that may constitute “forward-looking” statements, including statements regarding Company valuations and the potential future success of business strategies. 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 forward-looking 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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