Eltek (NASDAQ:ELTK) Coverage Initiated by Analysts at StockNews.com

Equities researchers at StockNews.com started coverage on shares of Eltek (NASDAQ:ELTK) in a note issued to investors on Friday. The brokerage set a “hold” rating on the technology company’s stock.

Eltek Stock Up 0.6 %

NASDAQ:ELTK opened at $8.68 on Friday. The company has a market capitalization of $52.65 million, a PE ratio of 10.21 and a beta of 0.36. Eltek has a 52-week low of $8.05 and a 52-week high of $12.47. The stock’s 50 day moving average price is $10.82 and its 200 day moving average price is $10.84.

Hedge Funds Weigh In On Eltek

A number of institutional investors have recently modified their holdings of the business. Sunbelt Securities Inc. boosted its stake in Eltek by 10.9% during the 3rd quarter. Sunbelt Securities Inc. now owns 10,361 shares of the technology company’s stock worth $113,000 after purchasing an additional 1,020 shares during the period. Essex Investment Management Co. LLC acquired a new stake in shares of Eltek during the fourth quarter worth about $99,000. Foundry Partners LLC boosted its stake 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 buying an additional 30,200 shares during the period. Northern Trust Corp purchased a new position in shares of Eltek during the fourth quarter worth about $405,000. Finally, Yelin Lapidot Holdings Management Ltd. increased 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 acquiring an additional 140,868 shares during the period. 64.58% of the stock is owned by institutional investors and hedge funds.

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.