Short Interest in Eltek Ltd. (NASDAQ:ELTK) Expands By 60.8%

Eltek Ltd. (NASDAQ:ELTK - Get Free Report) was the recipient of a large growth in short interest in March. As of March 15th, there was short interest totalling 83,300 shares, a growth of 60.8% from the February 29th total of 51,800 shares. Based on an average daily volume of 147,300 shares, the short-interest ratio is currently 0.6 days. Approximately 2.6% of the shares of the stock are sold short.

Hedge Funds Weigh In On Eltek

Hedge funds have recently bought and sold shares of the stock. Sunbelt Securities Inc. acquired a new stake in shares of Eltek during the second quarter worth $56,000. UBS Group AG boosted its holdings in Eltek by 14,290.4% in the third quarter. UBS Group AG now owns 14,966 shares of the technology company's stock valued at $142,000 after acquiring an additional 14,862 shares during the last quarter. Jump Financial LLC acquired a new position in Eltek in the fourth quarter valued at $183,000. Renaissance Technologies LLC lifted its position in shares of Eltek by 9.9% during the 1st quarter. Renaissance Technologies LLC now owns 62,454 shares of the technology company's stock valued at $259,000 after acquiring an additional 5,631 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new stake in shares of Eltek during the 4th quarter valued at $349,000. Hedge funds and other institutional investors own 64.58% of the company's stock.

Eltek Stock Up 0.7 %

NASDAQ ELTK traded up $0.08 during mid-day trading on Friday, hitting $11.14. The stock had a trading volume of 40,331 shares, compared to its average volume of 142,224. The company has a 50 day simple moving average of $14.68 and a 200 day simple moving average of $12.87. The company has a market cap of $67.62 million, a price-to-earnings ratio of 10.41 and a beta of -1.82. Eltek has a 52-week low of $3.84 and a 52-week high of $22.80.

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 offers high density interconnect, flex-rigid, and multi-layered boards.