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

StockNews.com assumed coverage on shares of Eltek (NASDAQ:ELTK) in a research note issued to investors on Saturday. The firm set a “hold” rating on the technology company’s stock.

Eltek Trading Down 0.4 %

NASDAQ ELTK opened at $8.49 on Friday. Eltek has a 12 month low of $8.05 and a 12 month high of $12.47. The company has a market capitalization of $51.53 million, a PE ratio of 9.99 and a beta of 0.36. The stock has a 50-day simple moving average of $10.53 and a 200 day simple moving average of $10.75.

Institutional Trading of Eltek

Several hedge funds and other institutional investors have recently modified their holdings of ELTK. Essex Investment Management Co. LLC bought a new position in Eltek in the 4th quarter valued at about $99,000. Sunbelt Securities Inc. lifted its holdings in shares of Eltek by 10.9% during the third quarter. Sunbelt Securities Inc. now owns 10,361 shares of the technology company’s stock worth $113,000 after purchasing an additional 1,020 shares during the period. Northern Trust Corp acquired a new position in Eltek during the 4th quarter worth about $405,000. Finally, Yelin Lapidot Holdings Management Ltd. lifted its stake in shares of 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 during the period. Institutional investors own 64.58% of the company’s stock.

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.