Short Interest in Eltek Ltd. (NASDAQ:ELTK) Increases By 36.2%

Eltek Ltd. (NASDAQ:ELTK - Get Free Report) saw a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 12,800 shares, an increase of 36.2% from the April 30th total of 9,400 shares. Approximately 0.4% of the company's shares are sold short. Based on an average daily trading volume, of 17,100 shares, the days-to-cover ratio is presently 0.7 days.

Wall Street Analyst Weigh In

Separately, Wall Street Zen assumed coverage on shares of Eltek in a research note on Friday, May 16th. They set a "hold" rating for the company.

Institutional Investors Weigh In On Eltek

Institutional investors have recently made changes to their positions in the stock. Yelin Lapidot Holdings Management Ltd. boosted its position in shares of Eltek by 206.7% in the 4th quarter. Yelin Lapidot Holdings Management Ltd. now owns 209,024 shares of the technology company's stock worth $2,312,000 after buying an additional 140,868 shares in the last quarter. Essex Investment Management Co. LLC purchased a new stake in shares of Eltek in the 4th quarter worth about $99,000. Finally, Northern Trust Corp purchased a new stake in shares of Eltek in the 4th quarter worth about $405,000. 64.58% of the stock is currently owned by hedge funds and other institutional investors.

Eltek Stock Performance

Shares of NASDAQ:ELTK traded down $0.27 during trading hours on Tuesday, reaching $10.13. The stock had a trading volume of 9,141 shares, compared to its average volume of 20,024. Eltek has a 1 year low of $7.65 and a 1 year high of $12.08. The stock has a market capitalization of $68.01 million, a price-to-earnings ratio of 11.92 and a beta of 0.61. The firm's 50 day moving average is $9.12 and its 200-day moving average is $10.22.

Eltek (NASDAQ:ELTK - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The technology company reported $0.15 earnings per share for the quarter. Eltek had a net margin of 11.51% and a return on equity of 15.49%. The company had revenue of $12.76 million for the quarter. Analysts forecast that Eltek will post 0.87 EPS for the current year.

Eltek Dividend Announcement

The company also recently disclosed a -- dividend, which was paid on Tuesday, April 29th. Investors of record on Tuesday, April 22nd were given a $0.19 dividend. The ex-dividend date was Tuesday, April 22nd. Eltek's dividend payout ratio (DPR) is 37.25%.

Eltek Company Profile

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.