Eltek (NASDAQ:ELTK) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of Eltek (NASDAQ:ELTKGet Rating) in a research report issued to clients and investors on Tuesday. The firm set a “hold” rating on the technology company’s stock.

Shares of Eltek stock opened at $4.17 on Tuesday. The business has a 50-day moving average of $3.94 and a 200-day moving average of $4.40. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.44 and a quick ratio of 1.91. The company has a market capitalization of $24.41 million, a PE ratio of 5.03 and a beta of -2.32. Eltek has a 1-year low of $3.52 and a 1-year high of $8.80.

Eltek (NASDAQ:ELTKGet Rating) last announced its earnings results on Wednesday, March 23rd. The technology company reported $0.65 earnings per share for the quarter. The company had revenue of $9.52 million during the quarter. Eltek had a return on equity of 28.19% and a net margin of 14.36%.

An institutional investor recently raised its position in Eltek stock. Renaissance Technologies LLC increased its position in Eltek Ltd. (NASDAQ:ELTKGet Rating) by 6.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 96,628 shares of the technology company’s stock after purchasing an additional 5,557 shares during the period. Renaissance Technologies LLC owned 1.65% of Eltek worth $359,000 at the end of the most recent reporting period. 2.47% of the stock is owned by hedge funds and other institutional investors.

Eltek Company Profile (Get Rating)

Eltek Ltd. manufactures, markets, and sells printed circuit boards (PCBs) in Israel, Europe, North America, India, the Netherlands, and internationally. The company offers a range of custom designed PCBs, including rigid, double-sided, and multi-layer PCBs; and flexible circuitry, such as flex and flex-rigid boards.

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