Eltek Ltd. (NASDAQ:ELTK) Short Interest Up 214.8% in June

Eltek Ltd. (NASDAQ:ELTK) was the recipient of a significant increase in short interest in June. As of June 15th, there was short interest totaling 8,002 shares, an increase of 214.8% from the May 31st total of 2,542 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average trading volume of 9,238 shares, the days-to-cover ratio is presently 0.9 days.

Eltek Stock Down 4.0%

ELTK stock opened at $8.93 on Tuesday. The business has a 50 day moving average price of $8.76 and a 200 day moving average price of $8.75. The stock has a market cap of $60.02 million, a price-to-earnings ratio of -19.85 and a beta of 0.75. Eltek has a fifty-two week low of $7.30 and a fifty-two week high of $11.69.

Eltek (NASDAQ:ELTK) last announced its quarterly earnings results on Wednesday, May 20th. The technology company reported ($0.42) EPS for the quarter. Eltek had a negative net margin of 6.12% and a negative return on equity of 6.69%. The company had revenue of $10.44 million during the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of 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, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

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. It primarily serves medical technology, defense and aerospace, industrial, telecom, and networking equipment industries, as well as contract electronic manufacturers.