Eltek Ltd. (NASDAQ:ELTK - Get Free Report) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $9.96 and traded as high as $10.39. Eltek shares last traded at $10.23, with a volume of 8,421 shares changing hands.
Analysts Set New Price Targets
Separately, Wall Street Zen started coverage on shares of Eltek in a research report on Friday, May 16th. They set a "hold" rating for the company.
Get Our Latest Report on Eltek
Eltek Stock Down 1.7%
The company has a market capitalization of $68.35 million, a price-to-earnings ratio of 22.62 and a beta of 0.61. The business's 50-day moving average is $10.30 and its 200-day moving average is $9.93.
Eltek (NASDAQ:ELTK - Get Free Report) last posted its earnings results on Thursday, August 14th. The technology company reported $0.05 earnings per share (EPS) for the quarter. The company had revenue of $12.53 million during the quarter. Eltek had a net margin of 6.26% and a return on equity of 7.56%. As a group, analysts expect that Eltek Ltd. will post 0.87 EPS for the current year.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of ELTK. Northern Trust Corp acquired a new position in shares of Eltek in the fourth quarter worth about $405,000. Yelin Lapidot Holdings Management Ltd. raised its position in shares of Eltek by 30.3% in the first quarter. Yelin Lapidot Holdings Management Ltd. now owns 272,282 shares of the technology company's stock worth $2,268,000 after acquiring an additional 63,258 shares during the period. Finally, CSM Advisors LLC acquired a new position in shares of Eltek in the second quarter worth about $1,030,000. Institutional investors and hedge funds own 64.58% of the company's stock.
Eltek Company Profile
(
Get Free Report)
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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