Sunbelt Securities Inc. Buys 2,945 Shares of Eltek Ltd. (NASDAQ:ELTK)

Sunbelt Securities Inc. increased its stake in shares of Eltek Ltd. (NASDAQ:ELTK) by 46.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,269 shares of the technology company’s stock after acquiring an additional 2,945 shares during the period. Sunbelt Securities Inc. owned about 0.15% of Eltek worth $103,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of ELTK. Jump Financial LLC bought a new stake in Eltek during the fourth quarter worth about $183,000. Navellier & Associates Inc. raised its holdings in Eltek by 106.4% during the fourth quarter. Navellier & Associates Inc. now owns 81,828 shares of the technology company’s stock worth $1,142,000 after acquiring an additional 42,178 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in Eltek during the fourth quarter worth about $377,000. Institutional investors own 64.58% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered Eltek from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd.

Eltek Stock Up 0.1 %

NASDAQ:ELTK opened at $9.75 on Friday. The stock’s 50 day moving average price is $10.83 and its two-hundred day moving average price is $12.93. The firm has a market capitalization of $59.18 million, a price-to-earnings ratio of 9.11 and a beta of 0.19. Eltek Ltd. has a 12-month low of $7.06 and a 12-month high of $22.80.

Eltek (NASDAQ:ELTK) last released its quarterly earnings data on Tuesday, May 21st. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.01. The firm had revenue of $11.78 million for the quarter. Eltek had a return on equity of 23.18% and a net margin of 13.89%. Equities research analysts expect that Eltek Ltd. will post 1.09 EPS for the current year.

Eltek 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.