Eltek Ltd. (NASDAQ:ELTK) Short Interest Update

Eltek Ltd. (NASDAQ:ELTK - Get Free Report) was the target of a large increase in short interest in 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. Currently, 0.2% of the company's stock are short sold. Based on an average daily volume of 13,500 shares, the days-to-cover ratio is presently 0.6 days.

Eltek Price Performance

Shares of ELTK traded up $0.21 during midday trading on Friday, hitting $8.46. The stock had a trading volume of 4,049 shares, compared to its average volume of 21,545. The firm has a market cap of $56.82 million, a price-to-earnings ratio of 9.79 and a beta of 0.58. The company has a 50 day simple moving average of $8.97 and a two-hundred day simple moving average of $10.31. Eltek has a twelve month low of $7.65 and a twelve month high of $12.47.

Eltek Announces Dividend

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

Institutional Trading of Eltek

A number of institutional investors have recently made changes to their positions in ELTK. Essex Investment Management Co. LLC bought a new stake in Eltek during the 4th quarter worth about $99,000. Northern Trust Corp bought a new stake in Eltek during the fourth quarter worth about $405,000. Finally, Yelin Lapidot Holdings Management Ltd. boosted its position in Eltek by 206.7% during the fourth quarter. Yelin Lapidot Holdings Management Ltd. now owns 209,024 shares of the technology company's stock valued at $2,312,000 after purchasing an additional 140,868 shares during the last quarter. Institutional investors own 64.58% of the company's stock.

Analyst Ratings Changes

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

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.