Eltek (NASDAQ:ELTK) Stock Crosses Above 200 Day Moving Average – Should You Sell?

Eltek Ltd. (NASDAQ:ELTK)’s share price crossed 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 $11.47. Eltek shares last traded at $11.33, with a volume of 11,476 shares.

Eltek Trading Up 0.8 %

The company’s 50-day simple moving average is $10.98 and its 200 day simple moving average is $10.56. The stock has a market cap of $68.76 million, a P/E ratio of 13.33 and a beta of 0.45.

Institutional Investors Weigh In On Eltek

Large investors have recently modified their holdings of the stock. Renaissance Technologies LLC increased its stake 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 purchasing an additional 1,300 shares during the last quarter. Sunbelt Securities Inc. boosted its holdings 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 purchasing an additional 1,020 shares during the period. Finally, Foundry Partners LLC boosted its holdings in Eltek by 14.2% in the 3rd 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 period. Hedge funds and other 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.