Eltek (NASDAQ:ELTK) Stock Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• Eltek Ltd.'s stock recently surpassed its 200-day moving average, reaching a high of $10.59 during trading on Monday.
• Wall Street Zen has initiated coverage of Eltek with a current rating of "hold", amidst recent fluctuations in its stock price.
• An institutional investor, Yelin Lapidot Holdings Management Ltd., increased its stake in Eltek by 30.3%, now owning 4.06% of the company's shares.

Shares of Eltek Ltd. (NASDAQ:ELTK - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $10.01 and traded as high as $10.59. Eltek shares last traded at $10.45, with a volume of 31,023 shares traded.

Analyst Upgrades and Downgrades

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

Eltek Trading Down 2.2%

The company has a market cap of $68.78 million, a price-to-earnings ratio of 20.09 and a beta of 0.62. The stock's fifty day simple moving average is $10.28 and its 200 day simple moving average is $10.02.

Eltek (NASDAQ:ELTK - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The technology company reported $0.15 EPS for the quarter. The company had revenue of $12.76 million during the quarter. Eltek had a net margin of 7.34% and a return on equity of 8.67%. On average, analysts predict that Eltek Ltd. will post 0.87 EPS for the current year.

Institutional Trading of Eltek

An institutional investor recently bought a new position in Eltek stock. Northern Trust Corp acquired a new position in shares of Eltek Ltd. (NASDAQ:ELTK - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 36,616 shares of the technology company's stock, valued at approximately $405,000. Northern Trust Corp owned 0.60% of Eltek as of its most recent filing with the SEC. 64.58% of the stock is currently owned by institutional investors and hedge funds.

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.