Eltek (NASDAQ:ELTK) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com initiated coverage on shares of Eltek (NASDAQ:ELTK) in a note issued to investors on Sunday. The firm set a “hold” rating on the technology company’s stock.

Eltek Price Performance

Shares of Eltek stock opened at $8.13 on Friday. The firm has a market cap of $49.34 million, a price-to-earnings ratio of 9.56 and a beta of 0.58. The stock’s 50-day moving average is $10.18 and its 200 day moving average is $10.64. Eltek has a one year low of $7.81 and a one year high of $12.47.

Institutional Trading of Eltek

Large investors have recently made changes to their positions in the company. Essex Investment Management Co. LLC bought a new position in Eltek in the fourth quarter worth approximately $99,000. Sunbelt Securities Inc. lifted its holdings in shares of Eltek by 10.9% in 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 in the last quarter. Northern Trust Corp acquired a new stake in Eltek in the 4th quarter valued at $405,000. Finally, Yelin Lapidot Holdings Management Ltd. increased its stake in Eltek by 206.7% during the 4th quarter. Yelin Lapidot Holdings Management Ltd. now owns 209,024 shares of the technology company’s stock valued at $2,312,000 after purchasing an additional 140,868 shares in the last quarter. 64.58% of the stock is currently owned by institutional investors and hedge funds.

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.