StockNews.com started coverage on shares of Eltek (NASDAQ:ELTK - Free Report) in a research note released on Wednesday morning. The brokerage issued a hold rating on the technology company's stock.
Eltek Stock Performance
NASDAQ:ELTK traded up $0.55 during mid-day trading on Wednesday, hitting $9.08. 9,004 shares of the stock were exchanged, compared to its average volume of 21,411. The firm's 50-day simple moving average is $8.92 and its 200 day simple moving average is $10.29. Eltek has a fifty-two week low of $7.65 and a fifty-two week high of $12.47. The stock has a market capitalization of $60.96 million, a price-to-earnings ratio of 10.68 and a beta of 0.57.
Eltek Dividend Announcement
The firm also recently declared a -- dividend, which was paid on Tuesday, April 29th. Investors of record on Tuesday, April 22nd were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, April 22nd. Eltek's dividend payout ratio is 30.16%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in ELTK. Yelin Lapidot Holdings Management Ltd. boosted its stake in shares of Eltek by 206.7% in the fourth quarter. Yelin Lapidot Holdings Management Ltd. now owns 209,024 shares of the technology company's stock valued at $2,312,000 after buying an additional 140,868 shares during the period. Essex Investment Management Co. LLC bought a new stake in shares of Eltek during the 4th quarter valued at $99,000. Finally, Northern Trust Corp bought a new stake in shares of Eltek during the 4th quarter valued at $405,000. Institutional investors and hedge funds own 64.58% of the company's stock.
About Eltek
(
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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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