Eltek Ltd. (NASDAQ:ELTK – Get Free Report) saw a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 27,100 shares, an increase of 29.7% from the September 30th total of 20,900 shares. Based on an average daily volume of 25,900 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.9% of the company’s stock are sold short.
Institutional Trading of Eltek
A number of large investors have recently made changes to their positions in ELTK. Sunbelt Securities Inc. boosted its position in shares of Eltek by 46.6% in the 1st quarter. Sunbelt Securities Inc. now owns 9,269 shares of the technology company’s stock valued at $103,000 after purchasing an additional 2,945 shares during the period. Foundry Partners LLC acquired a new stake in shares of Eltek in the 1st quarter valued at about $1,380,000. Finally, Renaissance Technologies LLC boosted its position in shares of Eltek by 1.5% in the 2nd quarter. Renaissance Technologies LLC now owns 90,723 shares of the technology company’s stock valued at $885,000 after purchasing an additional 1,300 shares during the period. 64.58% of the stock is owned by institutional investors and hedge funds.
Eltek Price Performance
Shares of NASDAQ ELTK opened at $10.44 on Monday. The stock’s 50-day moving average is $10.63 and its two-hundred day moving average is $10.53. Eltek has a 1-year low of $9.00 and a 1-year high of $22.80. The company has a market cap of $63.37 million, a price-to-earnings ratio of 10.88 and a beta of 0.44.
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.
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