Eltek (NASDAQ:ELTK) Shares Cross Below 200 Day Moving Average – Should You Sell?

Eltek Ltd. (NASDAQ:ELTK) shares crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $10.55 and traded as low as $10.55. Eltek shares last traded at $10.86, with a volume of 19,637 shares.

Eltek Stock Up 0.6 %

The company has a market capitalization of $65.92 million, a price-to-earnings ratio of 11.31 and a beta of 0.45. The stock has a 50 day moving average of $10.68 and a 200 day moving average of $10.55.

Eltek (NASDAQ:ELTK) last issued its earnings results on Thursday, August 15th. The technology company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.14). The business had revenue of $10.47 million during the quarter, compared to the consensus estimate of $11.90 million. Eltek had a return on equity of 18.75% and a net margin of 12.85%. During the same quarter in the previous year, the firm posted $0.22 earnings per share. As a group, sell-side analysts anticipate that Eltek Ltd. will post 1.02 EPS for the current fiscal year.

Institutional Trading of Eltek

An institutional investor recently bought a new position in Eltek stock. Foundry Partners LLC bought a new stake in Eltek Ltd. (NASDAQ:ELTK) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 123,905 shares of the technology company’s stock, valued at approximately $1,380,000. Foundry Partners LLC owned approximately 2.04% of Eltek as of its most recent SEC filing. 64.58% of the stock is owned by hedge funds and other institutional investors.

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.