Eltek (NASDAQ:ELTK) Share Price Crosses Below Two Hundred Day Moving Average of $12.70

Shares of Eltek Ltd. (NASDAQ:ELTKGet Free Report) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.70 and traded as low as $9.36. Eltek shares last traded at $9.46, with a volume of 26,680 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Eltek from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd.

Check Out Our Latest Analysis on ELTK

Eltek Stock Down 0.5 %

The business has a 50-day moving average price of $10.66 and a 200-day moving average price of $12.70. The firm has a market capitalization of $57.42 million, a price-to-earnings ratio of 8.84 and a beta of 0.32.

Eltek (NASDAQ:ELTKGet Free Report) last issued its quarterly earnings results on Tuesday, May 21st. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. The business had revenue of $11.78 million for the quarter. Eltek had a return on equity of 23.18% and a net margin of 13.89%. On average, equities research analysts forecast that Eltek Ltd. will post 1.09 earnings per share for the current year.

Institutional Investors Weigh In On Eltek

A number of institutional investors have recently modified their holdings of the business. Foundry Partners LLC acquired a new stake in Eltek in the 1st quarter worth about $1,380,000. Sunbelt Securities Inc. boosted its holdings in Eltek by 46.6% in the 1st quarter. Sunbelt Securities Inc. now owns 9,269 shares of the technology company’s stock worth $103,000 after buying an additional 2,945 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in Eltek in the 4th quarter worth about $377,000. Navellier & Associates Inc. boosted its holdings in Eltek by 106.4% in the 4th quarter. Navellier & Associates Inc. now owns 81,828 shares of the technology company’s stock worth $1,142,000 after buying an additional 42,178 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in Eltek in the 4th quarter worth about $183,000. 64.58% of the stock is currently owned by institutional investors and hedge funds.

About Eltek

(Get Free Report)

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.

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