Essex Investment Management Co. LLC Makes New Investment in Eltek Ltd. (NASDAQ:ELTK)

Essex Investment Management Co. LLC purchased a new stake in shares of Eltek Ltd. (NASDAQ:ELTK) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,913 shares of the technology company’s stock, valued at approximately $99,000.

Several other hedge funds and other institutional investors also recently modified their holdings of ELTK. Yelin Lapidot Holdings Management Ltd. lifted its position 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 valued at $2,312,000 after purchasing an additional 140,868 shares during the last quarter. Foundry Partners LLC grew its position in Eltek by 14.2% in the 3rd 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 during the last quarter. Finally, Sunbelt Securities Inc. increased its stake 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 valued at $113,000 after purchasing an additional 1,020 shares during the period. Institutional investors and hedge funds own 64.58% of the company’s stock.

Eltek Stock Down 0.3 %

Shares of ELTK opened at $11.36 on Monday. The firm has a market capitalization of $68.91 million, a PE ratio of 13.36 and a beta of 0.36. The firm has a 50-day moving average price of $11.24 and a 200 day moving average price of $10.96. Eltek Ltd. has a 52-week low of $9.00 and a 52-week high of $14.04.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on Eltek in a research report on Wednesday, March 5th. They set a “hold” rating for the company.

Eltek Company Profile

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.