StockNews.com began coverage on shares of Eltek (NASDAQ:ELTK – Free Report) in a research report report published on Friday. The firm issued a hold rating on the technology company’s stock.
Eltek Price Performance
ELTK stock opened at $8.53 on Friday. The stock has a market capitalization of $51.77 million, a price-to-earnings ratio of 10.04 and a beta of 0.36. The business’s fifty day moving average price is $10.77 and its two-hundred day moving average price is $10.83. Eltek has a fifty-two week low of $8.05 and a fifty-two week high of $12.47.
Hedge Funds Weigh In On Eltek
A number of hedge funds have recently bought and sold shares of the business. Yelin Lapidot Holdings Management Ltd. increased its holdings 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 purchasing an additional 140,868 shares during the period. Northern Trust Corp bought a new position in Eltek during the 4th quarter worth $405,000. Foundry Partners LLC increased its stake in Eltek by 14.2% during the 3rd quarter. Foundry Partners LLC now owns 242,470 shares of the technology company’s stock worth $2,645,000 after acquiring an additional 30,200 shares during the period. Essex Investment Management Co. LLC bought a new position in Eltek during the 4th quarter worth $99,000. Finally, Sunbelt Securities Inc. increased its stake in 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 acquiring an additional 1,020 shares during the period. 64.58% of the stock is owned by 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.
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