Eltek (NASDAQ:ELTK - Get Free Report) was downgraded by equities researchers at StockNews.com from a "buy" rating to a "hold" rating in a report released on Thursday.
Eltek Stock Down 4.5 %
Shares of ELTK stock traded down $0.55 during trading hours on Thursday, hitting $11.55. 67,892 shares of the company's stock traded hands, compared to its average volume of 110,058. The stock has a market cap of $70.11 million, a PE ratio of 10.79 and a beta of -1.73. The stock's 50 day simple moving average is $10.78 and its 200 day simple moving average is $13.20. Eltek has a 12 month low of $7.05 and a 12 month high of $22.80.
Eltek (NASDAQ:ELTK - Get Free Report) last announced 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). The company had revenue of $12.32 million for the quarter, compared to analyst estimates of $12.20 million. Eltek had a return on equity of 26.15% and a net margin of 13.89%. As a group, equities research analysts expect that Eltek will post 1.12 EPS for the current fiscal year.
Hedge Funds Weigh In On Eltek
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Sunbelt Securities Inc. raised its position in shares of Eltek by 46.6% in the 1st quarter. Sunbelt Securities Inc. now owns 9,269 shares of the technology company's stock worth $103,000 after acquiring an additional 2,945 shares in the last quarter. Jump Financial LLC acquired a new position in Eltek in the fourth quarter valued at approximately $183,000. Quadrature Capital Ltd bought a new position in shares of Eltek during the 4th quarter worth approximately $377,000. Navellier & Associates Inc. acquired a new stake in shares of Eltek during the 3rd quarter worth approximately $375,000. Finally, Foundry Partners LLC bought a new stake in shares of Eltek in the 1st quarter valued at $1,380,000. 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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