Equities Analysts Set Expectations for Eltek FY2024 Earnings

Eltek Ltd. (NASDAQ:ELTK) – Stock analysts at Zacks Small Cap dropped their FY2024 EPS estimates for Eltek in a research note issued on Wednesday, November 20th. Zacks Small Cap analyst T. Kerr now forecasts that the technology company will post earnings of $0.87 per share for the year, down from their prior estimate of $1.02. The consensus estimate for Eltek’s current full-year earnings is $1.02 per share.

Eltek Stock Performance

NASDAQ ELTK opened at $10.93 on Thursday. The firm’s fifty day moving average price is $10.76 and its two-hundred day moving average price is $10.57. The stock has a market cap of $66.35 million, a PE ratio of 13.59 and a beta of 0.45. Eltek has a fifty-two week low of $9.00 and a fifty-two week high of $22.80.

Institutional Trading of Eltek

A number of hedge funds and other institutional investors have recently modified their holdings of ELTK. Foundry Partners LLC grew its stake in shares of Eltek by 71.3% in the second quarter. Foundry Partners LLC now owns 212,270 shares of the technology company’s stock worth $2,070,000 after purchasing an additional 88,365 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Eltek by 1.5% in the second quarter. Renaissance Technologies LLC now owns 90,723 shares of the technology company’s stock worth $885,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Sunbelt Securities Inc. grew its stake 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 worth $113,000 after purchasing an additional 1,020 shares during the last quarter. 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.