Eltek (NASDAQ:ELTK) Share Price Passes Below 200-Day Moving Average – Should You Sell?

Eltek Ltd. (NASDAQ:ELTK)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $9.65 and traded as low as $9.18. Eltek shares last traded at $9.20, with a volume of 2,261 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Eltek in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Eltek Price Performance

The firm has a market cap of $61.82 million, a PE ratio of 76.67 and a beta of 0.65. The company has a 50 day simple moving average of $8.89 and a 200-day simple moving average of $9.65.

Eltek (NASDAQ:ELTK) last posted its quarterly earnings results on Monday, March 9th. The technology company reported ($0.05) EPS for the quarter. The business had revenue of $13.24 million for the quarter. Eltek had a return on equity of 1.85% and a net margin of 1.59%. On average, sell-side analysts predict that Eltek Ltd. will post 0.87 EPS for the current fiscal year.

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. It primarily serves medical technology, defense and aerospace, industrial, telecom, and networking equipment industries, as well as contract electronic manufacturers.