StockNews.com Begins Coverage on Eltek (NASDAQ:ELTK)

Research analysts at StockNews.com assumed coverage on shares of Eltek (NASDAQ:ELTK) in a research report issued to clients and investors on Wednesday. The firm set a “hold” rating on the technology company’s stock.

Eltek Stock Performance

Eltek stock opened at $8.29 on Wednesday. The company’s 50 day simple moving average is $8.97 and its 200-day simple moving average is $10.31. The company has a market capitalization of $55.69 million, a price-to-earnings ratio of 9.76 and a beta of 0.58. Eltek has a 1 year low of $7.65 and a 1 year high of $12.47.

Institutional Investors Weigh In On Eltek

Several large investors have recently added to or reduced their stakes in the business. Yelin Lapidot Holdings Management Ltd. raised its stake in Eltek by 206.7% in 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 buying an additional 140,868 shares in the last quarter. Essex Investment Management Co. LLC acquired a new stake in shares of Eltek during the fourth quarter worth about $99,000. Finally, Northern Trust Corp acquired a new position in Eltek in the 4th quarter valued at about $405,000. 64.58% of the stock is owned by hedge funds and other institutional investors.

About Eltek

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.