Eltek (NASDAQ:ELTK) Coverage Initiated at StockNews.com

Analysts at StockNews.com started coverage on shares of Eltek (NASDAQ:ELTK) in a research report issued on Saturday. The brokerage set a “hold” rating on the technology company’s stock.

Eltek Stock Performance

Shares of NASDAQ:ELTK opened at $8.49 on Friday. The company has a market capitalization of $51.53 million, a P/E ratio of 9.99 and a beta of 0.36. The company’s 50-day moving average is $10.53 and its 200 day moving average is $10.75. Eltek has a fifty-two week low of $8.05 and a fifty-two week high of $12.47.

Hedge Funds Weigh In On Eltek

Large investors have recently made changes to their positions in the stock. Yelin Lapidot Holdings Management Ltd. raised its position in shares of Eltek by 206.7% in the fourth quarter. Yelin Lapidot Holdings Management Ltd. now owns 209,024 shares of the technology company’s stock worth $2,312,000 after buying an additional 140,868 shares in the last quarter. Northern Trust Corp purchased a new stake in Eltek in the fourth quarter worth approximately $405,000. Sunbelt Securities Inc. boosted its stake in shares of Eltek by 10.9% in 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 in the last quarter. Finally, Essex Investment Management Co. LLC bought a new position in shares of Eltek during the fourth quarter valued at about $99,000. 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.