Eltek (NASDAQ:ELTK) Share Price Passes Below Two Hundred Day Moving Average – What’s Next?

Eltek Ltd. (NASDAQ:ELTK) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.48 and traded as low as $8.30. Eltek shares last traded at $8.2010, with a volume of 127 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Eltek in a research report on Friday, March 27th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

Eltek Price Performance

The business’s fifty day moving average is $8.73 and its 200-day moving average is $9.48. The firm has a market cap of $55.11 million, a PE ratio of 68.34 and a beta of 0.70.

Eltek (NASDAQ:ELTK) last posted its quarterly earnings data on Monday, March 9th. The technology company reported ($0.05) earnings per share (EPS) for the quarter. Eltek had a return on equity of 1.85% and a net margin of 1.59%.The company had revenue of $13.24 million for the quarter. Analysts forecast that Eltek Ltd. will post 0.87 EPS for the current year.

Eltek Company Profile

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.