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

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

Eltek Trading Down 1.5 %

Shares of Eltek stock opened at $8.53 on Friday. The firm has a market capitalization of $51.77 million, a PE ratio of 10.04 and a beta of 0.36. Eltek has a twelve month low of $8.05 and a twelve month high of $12.47. The firm’s 50-day moving average price is $10.77 and its 200 day moving average price is $10.83.

Institutional Trading of Eltek

A number of hedge funds have recently bought and sold shares of ELTK. Yelin Lapidot Holdings Management Ltd. raised its holdings in Eltek by 206.7% in the 4th quarter. Yelin Lapidot Holdings Management Ltd. now owns 209,024 shares of the technology company’s stock valued at $2,312,000 after acquiring an additional 140,868 shares during the last quarter. Northern Trust Corp acquired a new stake in Eltek in the 4th quarter valued at about $405,000. Foundry Partners LLC raised its holdings in Eltek by 14.2% in the 3rd quarter. Foundry Partners LLC now owns 242,470 shares of the technology company’s stock valued at $2,645,000 after acquiring an additional 30,200 shares during the last quarter. Essex Investment Management Co. LLC acquired a new stake in Eltek in the 4th quarter valued at about $99,000. Finally, Sunbelt Securities Inc. raised its holdings in Eltek by 10.9% in the 3rd quarter. Sunbelt Securities Inc. now owns 10,361 shares of the technology company’s stock valued at $113,000 after acquiring an additional 1,020 shares during the last quarter. Institutional investors and hedge funds 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.