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

Equities research analysts at StockNews.com started coverage on shares of Eltek (NASDAQ:ELTK) in a research note issued on Saturday. The firm set a “hold” rating on the technology company’s stock.

Eltek Trading Down 0.4 %

ELTK stock opened at $8.49 on Friday. The stock has a market cap of $51.53 million, a PE ratio of 9.99 and a beta of 0.36. Eltek has a 12 month low of $8.05 and a 12 month high of $12.47. The company has a 50-day moving average price of $10.53 and a 200 day moving average price of $10.75.

Institutional Investors Weigh In On Eltek

Institutional investors and hedge funds have recently modified their holdings of the business. Essex Investment Management Co. LLC purchased a new stake in Eltek in the fourth quarter worth $99,000. Sunbelt Securities Inc. increased 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 worth $113,000 after buying an additional 1,020 shares during the period. Northern Trust Corp bought a new stake in Eltek during the 4th quarter valued at about $405,000. Finally, Yelin Lapidot Holdings Management Ltd. boosted 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 buying an additional 140,868 shares during the period. 64.58% of the stock is owned by institutional investors.

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.