Eltek (NASDAQ:ELTK) Now Covered by Analysts at StockNews.com

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

Eltek Trading Down 0.4 %

Shares of Eltek stock opened at $8.49 on Friday. The stock’s fifty day moving average price is $10.53 and its 200-day moving average price is $10.75. The firm has a market cap of $51.53 million, a P/E ratio of 9.99 and a beta of 0.36. Eltek has a 12 month low of $8.05 and a 12 month high of $12.47.

Institutional Investors Weigh In On Eltek

Several institutional investors have recently added to or reduced their stakes in the business. Northern Trust Corp acquired a new position in shares of Eltek in the 4th quarter valued at $405,000. Essex Investment Management Co. LLC purchased a new stake in Eltek during the 4th quarter valued at about $99,000. Yelin Lapidot Holdings Management Ltd. grew its stake in Eltek by 206.7% during 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 purchasing an additional 140,868 shares during the last quarter. Finally, Sunbelt Securities Inc. increased its holdings in shares of Eltek by 10.9% in the third quarter. Sunbelt Securities Inc. now owns 10,361 shares of the technology company’s stock valued at $113,000 after purchasing an additional 1,020 shares during the period. 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.