Eltek Ltd. (NASDAQ:ELTK) Short Interest Update

Eltek Ltd. (NASDAQ:ELTKGet Free Report) saw a large decrease in short interest during the month of April. As of April 30th, there was short interest totalling 58,500 shares, a decrease of 7.1% from the April 15th total of 63,000 shares. Based on an average trading volume of 122,000 shares, the days-to-cover ratio is presently 0.5 days. Currently, 1.8% of the company’s shares are short sold.

Eltek Trading Down 1.5 %

ELTK stock opened at $10.84 on Friday. The company has a market cap of $65.80 million, a PE ratio of 10.13 and a beta of -1.73. The stock has a 50-day moving average price of $10.70 and a two-hundred day moving average price of $13.14. Eltek has a 12-month low of $4.60 and a 12-month high of $22.80.

Eltek (NASDAQ:ELTKGet Free Report) last released its quarterly earnings data on Monday, March 11th. The technology company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.09). The firm had revenue of $12.32 million during the quarter, compared to analyst estimates of $12.20 million. Eltek had a net margin of 13.60% and a return on equity of 26.20%. Equities analysts forecast that Eltek will post 1.12 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Eltek from a “buy” rating to a “hold” rating in a report on Monday, May 13th.

View Our Latest Stock Report on Eltek

Institutional Investors Weigh In On Eltek

Several institutional investors have recently bought and sold shares of ELTK. Foundry Partners LLC purchased a new position in shares of Eltek in the 1st quarter valued at $1,380,000. Sunbelt Securities Inc. increased its holdings in Eltek by 46.6% in the 1st quarter. Sunbelt Securities Inc. now owns 9,269 shares of the technology company’s stock valued at $103,000 after purchasing an additional 2,945 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Eltek in the fourth quarter valued at about $377,000. Navellier & Associates Inc. lifted its stake in shares of Eltek by 106.4% during the fourth quarter. Navellier & Associates Inc. now owns 81,828 shares of the technology company’s stock worth $1,142,000 after purchasing an additional 42,178 shares in the last quarter. Finally, Jump Financial LLC purchased a new stake in shares of Eltek in the fourth quarter worth about $183,000. 64.58% of the stock is currently owned by hedge funds and other institutional investors.

About Eltek

(Get Free Report)

Eltek Ltd. manufactures, markets, and sells printed circuit boards (PCBs) in Israel, Europe, North America, India, the Netherlands, and internationally. It offers a range of custom designed PCBs, including rigid, double-sided and multi-layer PCBs, and flexible circuitry boards. The company also provides high density interconnect, flex-rigid, and multi-layered boards.

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