Eltek (NASDAQ:ELTK) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of Eltek Ltd. (NASDAQ:ELTK) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $8.76 and traded as high as $9.62. Eltek shares last traded at $9.45, with a volume of 1,620 shares.

Wall Street Analyst Weigh In

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

Eltek Price Performance

The stock has a market cap of $61.62 million, a P/E ratio of -20.38 and a beta of 0.75. The stock’s 50 day simple moving average is $8.72 and its two-hundred day simple moving average is $8.75.

Eltek (NASDAQ:ELTK) last issued its quarterly earnings data on Wednesday, May 20th. The technology company reported ($0.42) earnings per share (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 for 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.