Eltek (NASDAQ:ELTK) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Shares of Eltek Ltd. (NASDAQ:ELTK) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $10.62 and traded as high as $11.35. Eltek shares last traded at $11.35, with a volume of 6,219 shares traded.

Eltek Stock Performance

The firm has a market cap of $66.92 million, a P/E ratio of 12.97 and a beta of 0.45. The company’s 50 day moving average is $11.03 and its 200 day moving average is $10.64.

Hedge Funds Weigh In On Eltek

Hedge funds have recently modified their holdings of the business. Sunbelt Securities Inc. raised its position in 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 purchasing an additional 1,020 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Eltek by 1.5% during the second quarter. Renaissance Technologies LLC now owns 90,723 shares of the technology company’s stock worth $885,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Foundry Partners LLC lifted its stake 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 worth $2,645,000 after acquiring an additional 30,200 shares during the period. Institutional investors and hedge funds 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.