Eltek (NASDAQ:ELTK) Stock Passes Below 200-Day Moving Average – Here’s What Happened

Shares of Eltek Ltd. (NASDAQ:ELTK) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.75 and traded as low as $8.68. Eltek shares last traded at $9.23, with a volume of 3,050 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded Eltek from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, June 12th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Eltek currently has an average rating of “Sell”.

Eltek Trading Down 2.6%

The firm has a market cap of $62.03 million, a P/E ratio of -20.51 and a beta of 0.75. The company’s 50 day simple moving average is $8.94 and its 200-day simple moving average is $8.75.

Eltek (NASDAQ:ELTK) last announced its quarterly earnings results on Wednesday, May 20th. The technology company reported ($0.42) EPS for the quarter. Eltek had a negative return on equity of 6.69% and a negative net margin of 6.12%.The company had revenue of $10.44 million during the quarter.

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. It primarily serves medical technology, defense and aerospace, industrial, telecom, and networking equipment industries, as well as contract electronic manufacturers.