Eltek Ltd. (NASDAQ:ELTK) Short Interest Up 5.7% in January

Eltek Ltd. (NASDAQ:ELTK) was the target of a significant increase in short interest in January. As of January 15th, there was short interest totalling 20,300 shares, an increase of 5.7% from the December 31st total of 19,200 shares. Currently, 0.6% of the company’s stock are sold short. Based on an average daily trading volume, of 20,800 shares, the days-to-cover ratio is presently 1.0 days.

Eltek Stock Performance

Shares of NASDAQ ELTK opened at $11.14 on Monday. Eltek has a 1 year low of $9.00 and a 1 year high of $22.80. The stock’s 50-day simple moving average is $11.05 and its 200-day simple moving average is $10.74. The firm has a market cap of $67.62 million, a price-to-earnings ratio of 13.11 and a beta of 0.45.

Institutional Investors Weigh In On Eltek

A number of institutional investors have recently modified their holdings of ELTK. Foundry Partners LLC increased its stake in Eltek by 14.2% during the third quarter. Foundry Partners LLC now owns 242,470 shares of the technology company’s stock valued at $2,645,000 after purchasing an additional 30,200 shares during the last quarter. Renaissance Technologies LLC grew its position 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 valued at $885,000 after buying an additional 1,300 shares during the last quarter. Finally, Sunbelt Securities Inc. raised its stake in Eltek by 10.9% during the third quarter. Sunbelt Securities Inc. now owns 10,361 shares of the technology company’s stock worth $113,000 after acquiring an additional 1,020 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.