Eltek (NASDAQ:ELTK) Share Price Passes Below 200 Day Moving Average - Time to Sell?

Key Points

• Share price fell below its 200-day moving average: ELTK traded as low as $8.35 and last at $8.4270, below the 200-day MA of $9.27 on light volume (~2,055 shares).
• Analyst view: Hold: Weiss Ratings reissued a "hold (c)" and MarketBeat's consensus rating for Eltek is currently "Hold".
• Fundamentals are modest: Market cap ~$56.6M with a P/E of ~70.2; the most recent quarter showed a ($0.05) EPS on $13.24M revenue, with a 1.59% net margin and 1.85% ROE.

Eltek Ltd. (NASDAQ:ELTK - Get Free Report)'s share price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $9.27 and traded as low as $8.35. Eltek shares last traded at $8.4270, with a volume of 2,055 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a "hold (c)" rating on shares of Eltek in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of "Hold".

Eltek Price Performance

The business's 50-day moving average is $8.59 and its two-hundred day moving average is $9.27. The firm has a market cap of $56.63 million, a P/E ratio of 70.23 and a beta of 0.70.

Eltek (NASDAQ:ELTK - Get Free Report) last posted its quarterly earnings results on Monday, March 9th. The technology company reported ($0.05) earnings per share for the quarter. The company had revenue of $13.24 million during the quarter. Eltek had a net margin of 1.59% and a return on equity of 1.85%.

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

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