Eltek (NASDAQ:ELTK) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Shares of Eltek Ltd. (NASDAQ:ELTK) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.52 and traded as high as $10.75. Eltek shares last traded at $10.72, with a volume of 13,445 shares changing hands.

Eltek Trading Up 2.6 %

The stock has a market cap of $66.76 million, a P/E ratio of 12.94 and a beta of 0.44. The stock’s fifty day moving average price is $10.87 and its 200 day moving average price is $10.52.

Hedge Funds Weigh In On Eltek

Large investors have recently modified their holdings of the stock. Sunbelt Securities Inc. raised its position in Eltek by 10.9% in the 3rd quarter. Sunbelt Securities Inc. now owns 10,361 shares of the technology company’s stock worth $113,000 after buying an additional 1,020 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Eltek by 1.5% during the 2nd quarter. Renaissance Technologies LLC now owns 90,723 shares of the technology company’s stock valued at $885,000 after acquiring an additional 1,300 shares during the period. Finally, Foundry Partners LLC grew its stake in shares of Eltek by 71.3% during the 2nd quarter. Foundry Partners LLC now owns 212,270 shares of the technology company’s stock valued at $2,070,000 after acquiring an additional 88,365 shares during the period. Hedge funds and other institutional investors own 64.58% of the company’s stock.

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.