Eltek Ltd. (NASDAQ:ELTK) Short Interest Update

Eltek Ltd. (NASDAQ:ELTK) was the recipient of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 83,300 shares, an increase of 60.8% from the February 29th total of 51,800 shares. Based on an average daily volume of 147,300 shares, the short-interest ratio is currently 0.6 days. Currently, 2.6% of the company’s stock are short sold.

Hedge Funds Weigh In On Eltek

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ELTK. Sunbelt Securities Inc. purchased a new position in Eltek in the 2nd quarter valued at about $56,000. UBS Group AG raised its stake in shares of Eltek by 14,290.4% in the 3rd quarter. UBS Group AG now owns 14,966 shares of the technology company’s stock valued at $142,000 after purchasing an additional 14,862 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of Eltek in the 4th quarter valued at about $183,000. Renaissance Technologies LLC raised its stake in Eltek by 9.9% during the first quarter. Renaissance Technologies LLC now owns 62,454 shares of the technology company’s stock worth $259,000 after acquiring an additional 5,631 shares during the period. Finally, Citadel Advisors LLC acquired a new stake in Eltek during the fourth quarter worth about $349,000. 64.58% of the stock is owned by hedge funds and other institutional investors.

Eltek Stock Performance

Eltek stock traded up $0.08 during trading on Friday, reaching $11.14. 40,331 shares of the company’s stock were exchanged, compared to its average volume of 142,224. The company’s 50-day moving average is $14.81 and its two-hundred day moving average is $12.85. The firm has a market cap of $67.62 million, a price-to-earnings ratio of 10.41 and a beta of -1.82. Eltek has a 52-week low of $3.84 and a 52-week high of $22.80.

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 offers high density interconnect, flex-rigid, and multi-layered boards.