StockNews.com Initiates Coverage on Eltek (NASDAQ:ELTK)

StockNews.com initiated coverage on shares of Eltek (NASDAQ:ELTK) in a report issued on Sunday. The firm set a “hold” rating on the technology company’s stock.

Eltek Price Performance

Shares of NASDAQ:ELTK opened at $8.13 on Friday. Eltek has a 1 year low of $7.81 and a 1 year high of $12.47. The company has a market capitalization of $49.34 million, a PE ratio of 9.56 and a beta of 0.58. The business has a fifty day moving average price of $10.18 and a two-hundred day moving average price of $10.64.

Institutional Investors Weigh In On Eltek

A number of institutional investors and hedge funds have recently made changes to their positions in ELTK. Yelin Lapidot Holdings Management Ltd. grew its stake in Eltek by 206.7% in the 4th quarter. Yelin Lapidot Holdings Management Ltd. now owns 209,024 shares of the technology company’s stock worth $2,312,000 after buying an additional 140,868 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in shares of Eltek by 10.9% during the 3rd quarter. Sunbelt Securities Inc. now owns 10,361 shares of the technology company’s stock worth $113,000 after acquiring an additional 1,020 shares during the last quarter. Essex Investment Management Co. LLC purchased a new position in Eltek in the fourth quarter worth $99,000. Finally, Northern Trust Corp bought a new position in Eltek in the fourth quarter valued at $405,000. Hedge funds and other institutional investors own 64.58% of the company’s stock.

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.