Eltek (NASDAQ:ELTK) Receives New Coverage from Analysts at StockNews.com

StockNews.com started coverage on shares of Eltek (NASDAQ:ELTK – Get Rating) in a research report issued to clients and investors on Wednesday. The brokerage set a “hold” rating on the technology company’s stock.

Shares of ELTK stock opened at $4.27 on Wednesday. Eltek has a 1-year low of $3.52 and a 1-year high of $8.80. The stock’s fifty day moving average price is $3.96 and its 200 day moving average price is $4.34. 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 cap of $24.98 million, a price-to-earnings ratio of 5.14 and a beta of -2.32.

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

An institutional investor recently raised its position in Eltek stock. Renaissance Technologies LLC boosted its position in shares of Eltek Ltd. (NASDAQ:ELTK – Get Rating) by 6.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 96,628 shares of the technology company’s stock after acquiring an additional 5,557 shares during the quarter. Renaissance Technologies LLC owned about 1.65% of Eltek worth $359,000 at the end of the most recent reporting period. 2.47% of the stock is currently 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 boards. It also offers high density interconnect, flex-rigid, and multi-layered boards.

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