StockNews.com Lowers Eltek (NASDAQ:ELTK) to Hold

StockNews.com lowered shares of Eltek (NASDAQ:ELTKFree Report) from a buy rating to a hold rating in a research note released on Thursday morning.

Eltek Stock Performance

Shares of ELTK opened at $11.89 on Thursday. Eltek has a 52-week low of $7.06 and a 52-week high of $22.80. The business’s fifty day moving average is $10.81 and its 200-day moving average is $13.23. The firm has a market cap of $72.17 million, a price-to-earnings ratio of 11.11 and a beta of -1.73.

Eltek (NASDAQ:ELTKGet Free Report) last issued its quarterly earnings results on Monday, March 11th. The technology company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.09). Eltek had a net margin of 13.89% and a return on equity of 23.18%. The business had revenue of $12.32 million during the quarter, compared to the consensus estimate of $12.20 million. As a group, research analysts forecast that Eltek will post 1.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Eltek

Hedge funds have recently modified their holdings of the company. Navellier & Associates Inc. acquired a new stake in shares of Eltek during the 3rd quarter valued at $375,000. Foundry Partners LLC acquired a new stake in shares of Eltek during the 1st quarter valued at $1,380,000. Sunbelt Securities Inc. boosted its holdings in shares of Eltek by 46.6% during the 1st quarter. Sunbelt Securities Inc. now owns 9,269 shares of the technology company’s stock valued at $103,000 after acquiring an additional 2,945 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Eltek during the 4th quarter valued at $377,000. Finally, Jump Financial LLC acquired a new stake in shares of Eltek during the 4th quarter valued at $183,000. Institutional investors and hedge funds own 64.58% of the company’s stock.

Eltek Company Profile

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Eltek Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eltek and related companies with MarketBeat.com's FREE daily email newsletter.