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

StockNews.com started coverage on shares of Eltek (NASDAQ:ELTK) in a research note published on Friday. The brokerage issued a hold rating on the technology company’s stock.

Eltek Price Performance

NASDAQ ELTK opened at $8.53 on Friday. The business has a fifty day moving average price of $10.77 and a two-hundred day moving average price of $10.83. The stock has a market capitalization of $51.77 million, a PE ratio of 10.04 and a beta of 0.36. Eltek has a fifty-two week low of $8.05 and a fifty-two week high of $12.47.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ELTK. Sunbelt Securities Inc. boosted its stake in shares of 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 purchasing an additional 1,020 shares in the last quarter. Essex Investment Management Co. LLC bought a new stake in shares of Eltek during the 4th quarter valued at approximately $99,000. Foundry Partners LLC grew its holdings 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 valued at $2,645,000 after purchasing an additional 30,200 shares during the last quarter. Northern Trust Corp bought a new stake in shares of Eltek during the 4th quarter valued at approximately $405,000. Finally, Yelin Lapidot Holdings Management Ltd. grew its stake in shares of Eltek by 206.7% during the fourth quarter. Yelin Lapidot Holdings Management Ltd. now owns 209,024 shares of the technology company’s stock worth $2,312,000 after buying an additional 140,868 shares during the last quarter. Institutional investors and hedge funds 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.