Eltek Ltd. (NASDAQ:ELTK) Short Interest Up 36.2% in May

Eltek Ltd. (NASDAQ:ELTK) saw a significant increase in short interest during the month of May. As of May 15th, there was short interest totalling 12,800 shares, an increase of 36.2% from the April 30th total of 9,400 shares. Approximately 0.4% of the company’s stock are short sold. Based on an average daily trading volume, of 17,100 shares, the days-to-cover ratio is presently 0.7 days.

Analyst Ratings Changes

Separately, Wall Street Zen began coverage on shares of Eltek in a research note on Friday, May 16th. They set a “hold” rating on the stock.

Institutional Investors Weigh In On Eltek

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC acquired a new stake in Eltek in the fourth quarter worth $99,000. Northern Trust Corp acquired a new position in shares of Eltek during the fourth quarter worth approximately $405,000. Finally, Yelin Lapidot Holdings Management Ltd. grew its holdings in Eltek by 30.3% in the 1st quarter. Yelin Lapidot Holdings Management Ltd. now owns 272,282 shares of the technology company’s stock worth $2,268,000 after buying an additional 63,258 shares in the last quarter. Hedge funds and other institutional investors own 64.58% of the company’s stock.

Eltek Stock Down 2.6%

NASDAQ:ELTK opened at $10.13 on Wednesday. The stock has a market capitalization of $68.01 million, a price-to-earnings ratio of 11.92 and a beta of 0.61. The stock’s fifty day moving average is $9.15 and its two-hundred day moving average is $10.22. Eltek has a 52 week low of $7.65 and a 52 week high of $12.08.

Eltek (NASDAQ:ELTK) last issued its quarterly earnings data on Tuesday, May 20th. The technology company reported $0.15 earnings per share (EPS) for the quarter. The company had revenue of $12.76 million for the quarter. Eltek had a return on equity of 15.49% and a net margin of 11.51%. On average, sell-side analysts expect that Eltek will post 0.87 EPS for the current fiscal year.

Eltek Announces Dividend

The firm also recently announced a — dividend, which was paid on Tuesday, April 29th. Investors of record on Tuesday, April 22nd were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, April 22nd. Eltek’s dividend payout ratio (DPR) is presently 37.25%.

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.