Eltek (NASDAQ:ELTK) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Eltek Ltd. (NASDAQ:ELTK) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.52 and traded as high as $10.75. Eltek shares last traded at $10.72, with a volume of 13,445 shares trading hands.

Eltek Price Performance

The stock has a market capitalization of $66.76 million, a PE ratio of 12.94 and a beta of 0.44. The firm’s 50 day simple moving average is $10.87 and its 200 day simple moving average is $10.52.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Foundry Partners LLC grew its holdings in shares of Eltek by 71.3% in the second quarter. Foundry Partners LLC now owns 212,270 shares of the technology company’s stock worth $2,070,000 after purchasing an additional 88,365 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Eltek by 1.5% in the second quarter. Renaissance Technologies LLC now owns 90,723 shares of the technology company’s stock valued at $885,000 after acquiring an additional 1,300 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its holdings in Eltek by 10.9% in the third quarter. Sunbelt Securities Inc. now owns 10,361 shares of the technology company’s stock valued at $113,000 after acquiring an additional 1,020 shares in the last quarter. Institutional investors own 64.58% of the company’s stock.

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.