Eltek (NASDAQ:ELTK) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Shares of Eltek Ltd. (NASDAQ:ELTK) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.56 and traded as high as $11.71. Eltek shares last traded at $11.55, with a volume of 23,397 shares trading hands.

Eltek Stock Performance

The company has a market cap of $70.11 million, a P/E ratio of 12.03 and a beta of 0.45. The business’s 50-day moving average price is $10.74 and its 200 day moving average price is $10.56.

Institutional Trading of Eltek

Several institutional investors and hedge funds have recently bought and sold shares of ELTK. Sunbelt Securities Inc. raised its stake in Eltek by 10.9% in the 3rd quarter. Sunbelt Securities Inc. now owns 10,361 shares of the technology company’s stock valued at $113,000 after acquiring an additional 1,020 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Eltek by 1.5% during the 2nd quarter. Renaissance Technologies LLC now owns 90,723 shares of the technology company’s stock worth $885,000 after buying an additional 1,300 shares during the period. Finally, Foundry Partners LLC grew its stake in Eltek by 71.3% in the 2nd quarter. Foundry Partners LLC now owns 212,270 shares of the technology company’s stock valued at $2,070,000 after buying an additional 88,365 shares during the last quarter. Institutional investors own 64.58% of the company’s stock.

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.