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

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

Eltek Trading Up 0.2 %

Shares of ELTK stock opened at $8.27 on Wednesday. The firm’s fifty day moving average price is $9.09 and its two-hundred day moving average price is $10.34. Eltek has a 1 year low of $7.65 and a 1 year high of $12.47. The firm has a market capitalization of $55.52 million, a P/E ratio of 9.73 and a beta of 0.58.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ELTK. Essex Investment Management Co. LLC acquired a new stake in shares of Eltek in the 4th quarter valued at approximately $99,000. Northern Trust Corp bought a new stake in Eltek during the fourth quarter worth $405,000. Finally, Yelin Lapidot Holdings Management Ltd. raised its position in Eltek by 206.7% during the fourth quarter. Yelin Lapidot Holdings Management Ltd. now owns 209,024 shares of the technology company’s stock worth $2,312,000 after acquiring an additional 140,868 shares in the last quarter. 64.58% of the stock is currently 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.