Short Interest in Eltek Ltd. (NASDAQ:ELTK) Increases By 71.1%

Eltek Ltd. (NASDAQ:ELTK - Get Free Report) was the target of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 7,700 shares, an increase of 71.1% from the March 31st total of 4,500 shares. Based on an average daily trading volume, of 13,500 shares, the short-interest ratio is presently 0.6 days. Approximately 0.2% of the company's stock are sold short.

Eltek Price Performance

Eltek stock traded up $0.28 during trading hours on Friday, hitting $8.53. The company had a trading volume of 7,833 shares, compared to its average volume of 21,449. Eltek has a fifty-two week low of $7.65 and a fifty-two week high of $12.47. The firm has a market capitalization of $57.27 million, a P/E ratio of 10.04 and a beta of 0.57. The firm's fifty day moving average is $8.92 and its 200-day moving average is $10.30.

Eltek Dividend Announcement

The firm also recently disclosed a -- dividend, which was paid on Tuesday, April 29th. Investors of record on Tuesday, April 22nd were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, April 22nd. Eltek's payout ratio is presently 30.16%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Eltek in a research note on Wednesday. They issued a "hold" rating for the company.

Institutional Investors Weigh In On Eltek

Several institutional investors and hedge funds have recently modified their holdings of the business. Yelin Lapidot Holdings Management Ltd. lifted its stake in shares of Eltek by 206.7% in the fourth quarter. Yelin Lapidot Holdings Management Ltd. now owns 209,024 shares of the technology company's stock worth $2,312,000 after buying an additional 140,868 shares during the last quarter. Essex Investment Management Co. LLC acquired a new position in Eltek during the 4th quarter worth $99,000. Finally, Northern Trust Corp acquired a new position in Eltek during the 4th quarter worth $405,000. Institutional investors and hedge funds own 64.58% of the company's stock.

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