Eltek Ltd. (NASDAQ:ELTK) Short Interest Update

Eltek Ltd. (NASDAQ:ELTK) saw a significant decline in short interest during the month of May. As of May 29th, there was short interest totaling 2,542 shares, a decline of 35.3% from the May 14th total of 3,928 shares. Based on an average daily trading volume, of 10,056 shares, the short-interest ratio is presently 0.3 days. Approximately 0.1% of the company’s stock are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings cut Eltek from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Eltek Stock Performance

Eltek stock opened at $9.50 on Wednesday. The business’s 50-day simple moving average is $8.57 and its 200-day simple moving average is $8.74. The firm has a market capitalization of $63.84 million, a PE ratio of -21.11 and a beta of 0.75. Eltek has a 52 week low of $7.30 and a 52 week high of $12.19.

Eltek (NASDAQ:ELTK) last posted its quarterly earnings data on Wednesday, May 20th. The technology company reported ($0.42) EPS for the quarter. The business had revenue of $10.44 million during the quarter. Eltek had a negative return on equity of 6.69% and a negative net margin of 6.12%.

About Eltek

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. It primarily serves medical technology, defense and aerospace, industrial, telecom, and networking equipment industries, as well as contract electronic manufacturers.