Short Interest in Eltek Ltd. (NASDAQ:ELTK) Decreases By 35.9%

Eltek Ltd. (NASDAQ:ELTK) was the target of a large decline in short interest in May. As of May 31st, there was short interest totalling 8,200 shares, a decline of 35.9% from the May 15th total of 12,800 shares. Based on an average daily volume of 17,000 shares, the short-interest ratio is presently 0.5 days. Approximately 0.3% of the company’s shares are short sold.

Analyst Ratings Changes

Separately, Wall Street Zen began coverage on Eltek in a research note on Friday, May 16th. They issued a “hold” rating on the stock.

Institutional Investors Weigh In On Eltek

Large investors have recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC acquired a new stake in Eltek during the 4th quarter valued at $99,000. Northern Trust Corp acquired a new stake in Eltek during the 4th quarter valued at $405,000. Finally, Yelin Lapidot Holdings Management Ltd. grew its holdings in Eltek by 206.7% during the 4th quarter. Yelin Lapidot Holdings Management Ltd. now owns 209,024 shares of the technology company’s stock valued at $2,312,000 after purchasing an additional 140,868 shares in the last quarter. 64.58% of the stock is owned by institutional investors and hedge funds.

Eltek Price Performance

NASDAQ ELTK opened at $10.15 on Monday. The business’s 50-day simple moving average is $9.42 and its 200-day simple moving average is $10.15. The firm has a market capitalization of $68.15 million, a P/E ratio of 11.94 and a beta of 0.62. Eltek has a 1-year low of $7.65 and a 1-year high of $12.00.

Eltek (NASDAQ:ELTK) last posted its earnings results on Tuesday, May 20th. The technology company reported $0.15 EPS for the quarter. The business had revenue of $12.76 million for the quarter. Eltek had a net margin of 11.51% and a return on equity of 15.49%. On average, equities research analysts expect that Eltek will post 0.87 EPS for the current fiscal year.

Eltek Dividend Announcement

The company also recently declared a — dividend, which was paid on Tuesday, April 29th. Investors of record on Tuesday, April 22nd were issued a dividend of $0.19 per share. The ex-dividend date was Tuesday, April 22nd. Eltek’s payout ratio is 37.25%.

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.