Eltek Ltd. (NASDAQ:ELTK – Get Free Report) was the target of a significant decline in short interest in February. As of February 28th, there was short interest totalling 7,900 shares, a decline of 31.9% from the February 13th total of 11,600 shares. Based on an average daily trading volume, of 18,700 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.3% of the company’s stock are sold short.
Hedge Funds Weigh In On Eltek
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ELTK. Essex Investment Management Co. LLC acquired a new stake in shares of Eltek in the fourth quarter valued at approximately $99,000. Sunbelt Securities Inc. raised its position in Eltek by 10.9% in the third quarter. Sunbelt Securities Inc. now owns 10,361 shares of the technology company’s stock worth $113,000 after acquiring an additional 1,020 shares in the last quarter. Northern Trust Corp purchased a new position in Eltek in the fourth quarter worth $405,000. Yelin Lapidot Holdings Management Ltd. raised its position 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 worth $2,312,000 after acquiring an additional 140,868 shares in the last quarter. Finally, Foundry Partners LLC raised its position in Eltek by 14.2% in the third quarter. Foundry Partners LLC now owns 242,470 shares of the technology company’s stock worth $2,645,000 after acquiring an additional 30,200 shares in the last quarter. 64.58% of the stock is owned by institutional investors and hedge funds.
Eltek Price Performance
Shares of Eltek stock traded up $0.12 on Friday, reaching $8.50. 5,981 shares of the company were exchanged, compared to its average volume of 15,655. Eltek has a 1-year low of $8.05 and a 1-year high of $12.47. The company has a market cap of $51.59 million, a P/E ratio of 10.00 and a beta of 0.36. The stock’s 50 day moving average price is $11.03 and its 200-day moving average price is $10.90.
Analyst Ratings Changes
Check Out Our Latest Report on ELTK
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.
Further Reading
- Five stocks we like better than Eltek
- Do ETFs Pay Dividends? What You Need to Know
- How to Build the Ultimate Everything ETF Portfolio
- REIT Stocks – Best REIT Stocks to Add to Your Portfolio Today
- Dutch Bros or Starbucks: Which Coffee Stock Has More Growth?
- The 3 Best Fintech Stocks to Buy Now
- 3 Stocks With High ROE and Market-Beating Growth Potential
Receive News & Ratings for Eltek Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eltek and related companies with MarketBeat.com's FREE daily email newsletter.