Eltek (NASDAQ:ELTK) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Eltek (NASDAQ:ELTKFree Report) in a research note issued to investors on Thursday. The firm issued a hold rating on the technology company’s stock.

Eltek Stock Performance

Shares of ELTK stock opened at $8.50 on Thursday. Eltek has a 1 year low of $8.05 and a 1 year high of $12.47. The stock has a market cap of $51.59 million, a PE ratio of 10.00 and a beta of 0.36. The business’s fifty day moving average is $11.03 and its 200-day moving average is $10.90.

Hedge Funds Weigh In On Eltek

Hedge funds have recently modified their holdings of the company. Essex Investment Management Co. LLC acquired a new position in shares of Eltek during the 4th quarter valued at $99,000. Sunbelt Securities Inc. boosted its position 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 buying an additional 1,020 shares during the period. Northern Trust Corp acquired a new stake in shares of Eltek in the fourth quarter worth $405,000. Yelin Lapidot Holdings Management Ltd. boosted its position in shares of Eltek by 206.7% in 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 period. Finally, Foundry Partners LLC boosted its position in shares of Eltek by 14.2% in 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 period. 64.58% of the stock is currently owned by institutional investors and hedge funds.

Eltek Company Profile

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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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