Eltek (NASDAQ:ELTK) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Eltek Ltd. (NASDAQ:ELTK) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $10.62 and traded as high as $11.35. Eltek shares last traded at $11.35, with a volume of 6,219 shares.

Eltek Trading Up 2.5 %

The firm has a market capitalization of $68.89 million, a price-to-earnings ratio of 13.35 and a beta of 0.45. The company has a 50-day moving average of $11.03 and a 200-day moving average of $10.62.

Hedge Funds Weigh In On Eltek

Several institutional investors have recently made changes to their positions in ELTK. Foundry Partners LLC increased its position in Eltek by 14.2% in the third quarter. Foundry Partners LLC now owns 242,470 shares of the technology company’s stock worth $2,645,000 after buying an additional 30,200 shares during the period. Renaissance Technologies LLC lifted its position in Eltek by 1.5% in the 2nd quarter. Renaissance Technologies LLC now owns 90,723 shares of the technology company’s stock valued at $885,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its stake in Eltek by 10.9% during the 3rd quarter. Sunbelt Securities Inc. now owns 10,361 shares of the technology company’s stock valued at $113,000 after purchasing an additional 1,020 shares during the period. 64.58% of the stock is owned by institutional investors.

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.