Eltek (NASDAQ:ELTK - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Friday.
Eltek Trading Down 3.0 %
ELTK stock traded down $0.34 during mid-day trading on Friday, hitting $10.91. The stock had a trading volume of 48,083 shares, compared to its average volume of 133,022. Eltek has a 52 week low of $3.90 and a 52 week high of $22.80. The firm has a market capitalization of $66.22 million, a P/E ratio of 10.20 and a beta of -1.84. The firm has a fifty day simple moving average of $12.31 and a 200 day simple moving average of $13.02.
Eltek (NASDAQ:ELTK - Get Free Report) last released its earnings results on Monday, March 11th. The technology company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.09). Eltek had a net margin of 13.60% and a return on equity of 26.20%. The firm had revenue of $12.32 million during the quarter, compared to the consensus estimate of $12.20 million. As a group, equities analysts expect that Eltek will post 1.12 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Eltek
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its position in Eltek by 9.9% during the 1st quarter. Renaissance Technologies LLC now owns 62,454 shares of the technology company's stock worth $259,000 after buying an additional 5,631 shares during the period. Sunbelt Securities Inc. acquired a new stake in Eltek during the 2nd quarter worth approximately $56,000. UBS Group AG boosted its position in Eltek by 14,290.4% during the 3rd quarter. UBS Group AG now owns 14,966 shares of the technology company's stock worth $142,000 after buying an additional 14,862 shares during the period. Navellier & Associates Inc. acquired a new stake in Eltek during the 3rd quarter worth approximately $375,000. Finally, Jump Financial LLC acquired a new stake in Eltek during the 4th quarter worth approximately $183,000. 64.58% of the stock is owned by institutional investors.
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 offers high density interconnect, flex-rigid, and multi-layered boards.
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