Eltek (NASDAQ:ELTK) Stock Price Crosses Above 200-Day Moving Average – Should You Sell?

Eltek Ltd. (NASDAQ:ELTK)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $10.91 and traded as high as $11.50. Eltek shares last traded at $11.49, with a volume of 6,957 shares changing hands.

Eltek Price Performance

The firm has a market cap of $69.73 million, a PE ratio of 13.52 and a beta of 0.45. The business has a 50-day simple moving average of $11.18 and a 200 day simple moving average of $10.91.

Institutional Trading of Eltek

Institutional investors and hedge funds have recently modified their holdings of the company. Foundry Partners LLC grew its position in shares of Eltek by 14.2% during the third quarter. Foundry Partners LLC now owns 242,470 shares of the technology company’s stock worth $2,645,000 after purchasing an additional 30,200 shares in the last quarter. Yelin Lapidot Holdings Management Ltd. boosted its holdings in shares of Eltek by 206.7% during the 4th quarter. Yelin Lapidot Holdings Management Ltd. now owns 209,024 shares of the technology company’s stock valued at $2,312,000 after purchasing an additional 140,868 shares during the last quarter. Northern Trust Corp purchased a new position in shares of Eltek during the fourth quarter valued at about $405,000. Sunbelt Securities Inc. lifted its position in shares of Eltek by 10.9% in the third quarter. Sunbelt Securities Inc. now owns 10,361 shares of the technology company’s stock worth $113,000 after buying an additional 1,020 shares in the last quarter. Finally, Essex Investment Management Co. LLC bought a new position in shares of Eltek during the 4th quarter valued at approximately $99,000. 64.58% of the stock is currently owned by institutional investors.

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.