StockNews.com initiated coverage on shares of Eltek (NASDAQ:ELTK – Free Report) in a report issued on Wednesday. The brokerage issued a hold rating on the technology company’s stock.
Eltek Trading Down 0.3 %
ELTK opened at $11.36 on Wednesday. Eltek has a 12-month low of $9.00 and a 12-month high of $14.04. The firm has a market capitalization of $68.91 million, a PE ratio of 13.36 and a beta of 0.36. The firm has a 50 day moving average of $11.24 and a two-hundred day moving average of $10.95.
Hedge Funds Weigh In On Eltek
A number of institutional investors have recently bought and sold shares of the business. Foundry Partners LLC grew its stake in shares of Eltek by 14.2% during the 3rd quarter. Foundry Partners LLC now owns 242,470 shares of the technology company’s stock worth $2,645,000 after purchasing an additional 30,200 shares during the period. Sunbelt Securities Inc. grew its stake in shares of Eltek by 10.9% during the 3rd 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. Yelin Lapidot Holdings Management Ltd. grew its stake in shares of Eltek by 206.7% during the 4th quarter. Yelin Lapidot Holdings Management Ltd. now owns 209,024 shares of the technology company’s stock worth $2,312,000 after purchasing an additional 140,868 shares during the period. Essex Investment Management Co. LLC acquired a new stake in shares of Eltek during the 4th quarter worth approximately $99,000. Finally, Northern Trust Corp acquired a new stake in shares of Eltek during the 4th quarter worth approximately $405,000. 64.58% of the stock is owned by hedge funds and other institutional investors.
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.
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