Eltek (NASDAQ:ELTK) Stock Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Eltek Ltd. (NASDAQ:ELTK) shares surpassed their 200-day moving average of $9.87, reaching a high of $10.30 during trading.
• Analysts from Wall Street Zen have initiated coverage on Eltek with a "hold" rating, suggesting a cautious outlook on the stock.
• The company reported $0.05 earnings per share and a revenue of $12.53 million for the last quarter, with projections of 0.87 earnings per share for the current fiscal year.

Eltek Ltd. (NASDAQ:ELTK - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $9.87 and traded as high as $10.30. Eltek shares last traded at $10.28, with a volume of 3,581 shares trading hands.

Analysts Set New Price Targets

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

Eltek Stock Performance

The stock has a market capitalization of $66.73 million, a P/E ratio of 22.07 and a beta of 0.55. The company's fifty day simple moving average is $10.30 and its two-hundred day simple moving average is $9.84.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Northern Trust Corp acquired a new stake in Eltek in the 4th quarter worth about $405,000. CSM Advisors LLC acquired a new stake in Eltek in the 2nd quarter worth about $1,030,000. Finally, Yelin Lapidot Holdings Management Ltd. raised its stake in Eltek by 30.3% in the 1st quarter. Yelin Lapidot Holdings Management Ltd. now owns 272,282 shares of the technology company's stock worth $2,268,000 after purchasing an additional 63,258 shares in the last quarter. 64.58% of the stock is owned by institutional investors.

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.