Eltek Ltd. (NASDAQ:ELTK) Short Interest Update
by Tristan Rich · The Markets DailyEltek Ltd. (NASDAQ:ELTK – Get Free Report) saw a large drop in short interest during the month of January. As of January 15th, there was short interest totaling 3,340 shares, a drop of 32.1% from the December 31st total of 4,918 shares. Based on an average daily volume of 4,527 shares, the short-interest ratio is presently 0.7 days. Currently, 0.2% of the company’s shares are sold short. Currently, 0.2% of the company’s shares are sold short. Based on an average daily volume of 4,527 shares, the short-interest ratio is presently 0.7 days.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Eltek in a research note on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.
Read Our Latest Research Report on Eltek
Eltek Trading Down 2.1%
ELTK traded down $0.19 during midday trading on Friday, hitting $8.76. The company’s stock had a trading volume of 5,884 shares, compared to its average volume of 3,058. Eltek has a 52-week low of $7.65 and a 52-week high of $12.19. The firm has a 50-day moving average price of $8.87 and a two-hundred day moving average price of $9.98. The firm has a market cap of $58.87 million, a P/E ratio of 51.53 and a beta of 0.66.
Eltek (NASDAQ:ELTK – Get Free Report) last released its earnings results on Tuesday, November 18th. The technology company reported ($0.03) earnings per share (EPS) for the quarter. Eltek had a return on equity of 2.68% and a net margin of 2.35%.The company had revenue of $13.27 million during the quarter. On average, equities analysts expect that Eltek will post 0.87 EPS for the current year.
Institutional Inflows and Outflows
An institutional investor recently bought a new position in Eltek stock. CSM Advisors LLC purchased a new stake in shares of Eltek Ltd. (NASDAQ:ELTK – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 96,209 shares of the technology company’s stock, valued at approximately $1,030,000. CSM Advisors LLC owned 1.43% of Eltek at the end of the most recent quarter. Hedge funds and other 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. It primarily serves medical technology, defense and aerospace, industrial, telecom, and networking equipment industries, as well as contract electronic manufacturers.