Short Interest in Eltek Ltd. (NASDAQ:ELTK) Rises By 5.7%

Eltek Ltd. (NASDAQ:ELTK) saw a significant growth in short interest in December. As of December 31st, there was short interest totalling 20,300 shares, a growth of 5.7% from the December 15th total of 19,200 shares. Approximately 0.6% of the shares of the stock are sold short. Based on an average daily volume of 20,800 shares, the short-interest ratio is presently 1.0 days.

Institutional Investors Weigh In On Eltek

Large investors have recently bought and sold shares of the stock. Foundry Partners LLC lifted its position in shares of Eltek by 14.2% in the third quarter. Foundry Partners LLC now owns 242,470 shares of the technology company’s stock valued at $2,645,000 after acquiring an additional 30,200 shares in the last quarter. Renaissance Technologies LLC increased its position in Eltek by 1.5% during the 2nd quarter. Renaissance Technologies LLC now owns 90,723 shares of the technology company’s stock worth $885,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Sunbelt Securities Inc. raised its stake in Eltek by 10.9% in the 3rd quarter. Sunbelt Securities Inc. now owns 10,361 shares of the technology company’s stock valued at $113,000 after purchasing an additional 1,020 shares during the last quarter. Institutional investors and hedge funds own 64.58% of the company’s stock.

Eltek Price Performance

ELTK stock opened at $11.03 on Tuesday. Eltek has a 12 month low of $9.00 and a 12 month high of $22.80. The firm has a market capitalization of $66.92 million, a PE ratio of 12.97 and a beta of 0.45. The company’s 50 day simple moving average is $11.04 and its 200-day simple moving average is $10.66.

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.