Eltek Ltd. (NASDAQ:ELTK) Short Interest Update

Key Points

• Eltek Ltd. experienced a significant decline in short interest, dropping from 8,600 shares to 4,200 shares, a 51.2% decrease as of September 30th.
• Analysts have given Eltek a "hold" rating, reflecting cautious sentiment with an average expectation of $0.87 earnings per share for the current fiscal year.
• CSM Advisors LLC purchased 96,209 shares of Eltek, indicating increased institutional interest, with institutional investors holding approximately 64.58% of the stock.

Eltek Ltd. (NASDAQ:ELTK - Get Free Report) saw a large decline in short interest in September. As of September 30th, there was short interest totaling 4,200 shares, a decline of 51.2% from the September 15th total of 8,600 shares. Based on an average trading volume of 8,200 shares, the short-interest ratio is currently 0.5 days. Approximately 0.1% of the company's stock are sold short. Approximately 0.1% of the company's stock are sold short. Based on an average trading volume of 8,200 shares, the short-interest ratio is currently 0.5 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a "hold (c-)" rating on shares of Eltek in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of "Hold".

Eltek Stock Down 0.3%

NASDAQ ELTK opened at $11.12 on Monday. The firm has a 50 day moving average of $10.53 and a two-hundred day moving average of $10.04. Eltek has a 52 week low of $7.65 and a 52 week high of $12.19. The stock has a market capitalization of $74.73 million, a PE ratio of 24.71 and a beta of 0.52.

Eltek (NASDAQ:ELTK - Get Free Report) last issued its earnings results on Thursday, August 14th. The technology company reported $0.05 earnings per share (EPS) for the quarter. Eltek had a net margin of 6.26% and a return on equity of 7.40%. The business had revenue of $12.53 million during the quarter. On average, equities research analysts expect that Eltek will post 0.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Eltek stock. CSM Advisors LLC bought a new stake in Eltek Ltd. (NASDAQ:ELTK - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 96,209 shares of the technology company's stock, valued at approximately $1,030,000. CSM Advisors LLC owned approximately 1.43% of Eltek at the end of the most recent quarter. Institutional investors and hedge funds own 64.58% of the company's stock.

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.

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