Eltek Ltd. (NASDAQ:ELTK) Stock Short Interest Report for October

Eltek Ltd. (NASDAQ:ELTK) was the recipient of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 4,482 shares, an increase of 160.9% from the September 30th total of 1,718 shares. Based on an average trading volume of 3,703 shares, the days-to-cover ratio is currently 1.2 days. Approximately 0.2% of the company’s shares are short sold.

Insider Transactions at Eltek

In other Eltek news, insider Gad Dovev sold 4,260 shares of Eltek stock in a transaction on 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 sale, the insider owned 500 shares of the company’s stock, valued at approximately $4,260. The trade was a 89.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 72.02% of the company’s stock.

Analyst Upgrades and Downgrades

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

Eltek Trading Down 4.9%

Shares of NASDAQ:ELTK traded down $0.31 during mid-day trading on Thursday, reaching $6.01. The stock had a trading volume of 808 shares, compared to its average volume of 11,175. The firm has a 50 day simple moving average of $7.70 and a two-hundred day simple moving average of $8.47. Eltek has a twelve month low of $6.01 and a twelve month high of $11.59. The firm has a market cap of $40.39 million, a PE ratio of -6.60 and a beta of 0.68.

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

Eltek Company Profile

Eltek Ltd. is an Israel-based manufacturer of high-end printed circuit boards (PCBs). The company produces rigid, flexible, and rigid-flexible boards, as well as multilayer, high-density interconnect (HDI), and radio-frequency circuit boards. Its products are designed for applications that require complex circuitry, high reliability, and specialized manufacturing capabilities.

Eltek serves customers in industries including aerospace and defense, medical equipment, industrial systems, telecommunications, automotive, and other technology markets.