Insider Selling: Eltek (NASDAQ:ELTK) Insider Sells 4,260 Shares of Stock

Eltek Ltd. (NASDAQ:ELTK) insider Gad Dovev sold 4,260 shares of Eltek stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $8.52, for a total transaction of $36,295.20. Following the completion of the transaction, the insider directly owned 500 shares of the company’s stock, valued at $4,260. This trade represents a 89.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Eltek Stock Up 2.1%

Shares of NASDAQ:ELTK opened at $8.17 on Tuesday. The company has a market cap of $54.90 million, a PE ratio of -8.98 and a beta of 0.74. Eltek Ltd. has a fifty-two week low of $7.30 and a fifty-two week high of $11.59. The firm has a 50-day simple moving average of $8.37 and a 200 day simple moving average of $8.59.

Eltek (NASDAQ:ELTK) last issued its earnings results on Tuesday, August 18th. The technology company reported ($0.41) earnings per share (EPS) for the quarter. The business had revenue of $11.53 million during the quarter. Eltek had a negative return on equity of 13.57% and a negative net margin of 12.66%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Eltek in a research report on Wednesday, September 9th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

About Eltek

Eltek Ltd. is an Israel-based manufacturer of printed circuit boards (PCBs) for applications that require advanced design, reliability, and performance. The company produces rigid multilayer, flexible, rigid-flexible, and high-density interconnect circuit boards, as well as prototype and quick-turn products.

Eltek serves customers in industries including aerospace and defense, medical equipment, industrial systems, communications, automotive, and other technology markets. Its products are used in electronic systems that may require complex interconnections, compact designs, and resistance to demanding operating conditions.

Founded in 1970 and headquartered in Petah Tikva, Israel, Eltek sells its products in Israel and international markets, including North America, Europe, and Asia.