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

StockNews.com began coverage on shares of Eltek (NASDAQ:ELTK) in a report issued on Saturday morning. The firm issued a hold rating on the technology company’s stock.

Eltek Price Performance

Shares of ELTK opened at $8.33 on Friday. Eltek has a 12 month low of $8.05 and a 12 month high of $12.47. The stock has a fifty day moving average price of $10.48 and a 200 day moving average price of $10.73. The company has a market cap of $50.55 million, a P/E ratio of 9.80 and a beta of 0.36.

Institutional Investors Weigh In On Eltek

A number of hedge funds have recently made changes to their positions in the business. Northern Trust Corp bought a new stake in shares of Eltek during the fourth quarter valued at about $405,000. Essex Investment Management Co. LLC acquired a new stake in shares of Eltek in the 4th quarter worth approximately $99,000. Yelin Lapidot Holdings Management Ltd. increased its stake 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 valued at $2,312,000 after acquiring an additional 140,868 shares during the period. Finally, Sunbelt Securities Inc. raised its holdings in Eltek by 10.9% during 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 in the last quarter. Institutional investors own 64.58% of the company’s stock.

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.