Eltek (NASDAQ:ELTK) Stock Passes Above 200-Day Moving Average – Should You Sell?

Eltek Ltd. (NASDAQ:ELTK) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.71 and traded as high as $11.30. Eltek shares last traded at $11.16, with a volume of 7,093 shares trading hands.

Eltek Trading Down 2.1 %

The business has a fifty day simple moving average of $11.05 and a two-hundred day simple moving average of $10.71. The company has a market cap of $67.74 million, a PE ratio of 13.13 and a beta of 0.45.

Hedge Funds Weigh In On Eltek

A number of institutional investors and hedge funds have recently bought and sold shares of ELTK. Sunbelt Securities Inc. boosted its holdings in shares of Eltek by 10.9% during the 3rd 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. Renaissance Technologies LLC lifted its position in Eltek by 1.5% during the second quarter. Renaissance Technologies LLC now owns 90,723 shares of the technology company’s stock worth $885,000 after buying an additional 1,300 shares in the last quarter. Finally, Foundry Partners LLC boosted its stake in Eltek by 14.2% during the third quarter. Foundry Partners LLC now owns 242,470 shares of the technology company’s stock worth $2,645,000 after buying an additional 30,200 shares during the last quarter. 64.58% of the stock is currently owned by institutional investors and hedge funds.

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.