Short Interest in Eltek Ltd. (NASDAQ:ELTK) Decreases By 32.1%

Eltek Ltd. (NASDAQ:ELTK) was the recipient of a significant decrease in short interest in the month of January. As of January 15th, there was short interest totaling 3,340 shares, a decrease of 32.1% from the December 31st total of 4,918 shares. Based on an average daily trading volume, of 4,527 shares, the short-interest ratio is presently 0.7 days. Approximately 0.2% of the company’s stock are short sold. Approximately 0.2% of the company’s stock are short sold. Based on an average daily trading volume, of 4,527 shares, the short-interest ratio is presently 0.7 days.

Eltek Stock Up 1.7%

ELTK traded up $0.15 on Monday, reaching $8.93. The company’s stock had a trading volume of 1,104 shares, compared to its average volume of 3,058. The stock has a 50 day moving average of $8.89 and a two-hundred day moving average of $9.97. The company has a market capitalization of $60.00 million, a price-to-earnings ratio of 52.52 and a beta of 0.66. Eltek has a fifty-two week low of $7.65 and a fifty-two week high of $12.19.

Eltek (NASDAQ:ELTK) last released its quarterly earnings data on Tuesday, November 18th. The technology company reported ($0.03) earnings per share for the quarter. Eltek had a return on equity of 2.68% and a net margin of 2.35%.The company had revenue of $13.27 million for the quarter. As a group, analysts anticipate that Eltek will post 0.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Eltek in a report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Eltek has an average rating of “Hold”.

Hedge Funds Weigh In On Eltek

An institutional investor recently bought a new position in Eltek stock. CSM Advisors LLC acquired a new position in shares of Eltek Ltd. (NASDAQ:ELTK) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 96,209 shares of the technology company’s stock, valued at approximately $1,030,000. CSM Advisors LLC owned about 1.43% of Eltek as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 64.58% of the company’s stock.

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.