Foundry Partners LLC Buys 88,365 Shares of Eltek Ltd. (NASDAQ:ELTK)

Foundry Partners LLC increased its position in shares of Eltek Ltd. (NASDAQ:ELTK) by 71.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 212,270 shares of the technology company’s stock after buying an additional 88,365 shares during the period. Foundry Partners LLC owned 3.50% of Eltek worth $2,070,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Sunbelt Securities Inc. grew its holdings in shares of Eltek by 46.6% during the 1st quarter. Sunbelt Securities Inc. now owns 9,269 shares of the technology company’s stock worth $103,000 after purchasing an additional 2,945 shares in the last quarter. Jump Financial LLC acquired a new position in shares of Eltek in the 4th quarter valued at about $183,000. Quadrature Capital Ltd bought a new stake in shares of Eltek during the 4th quarter valued at about $377,000. Finally, Navellier & Associates Inc. grew its stake in Eltek by 106.4% during the fourth quarter. Navellier & Associates Inc. now owns 81,828 shares of the technology company’s stock worth $1,142,000 after purchasing an additional 42,178 shares during the period. 64.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com downgraded Eltek from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd.

Eltek Stock Up 1.0 %

Eltek stock opened at $10.96 on Friday. The company’s 50 day moving average price is $10.16 and its two-hundred day moving average price is $10.86. Eltek Ltd. has a 52 week low of $8.02 and a 52 week high of $22.80. The stock has a market cap of $66.52 million, a P/E ratio of 10.24 and a beta of 0.43.

Eltek (NASDAQ:ELTK) last released its quarterly earnings data on Thursday, August 15th. The technology company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.14). Eltek had a net margin of 12.85% and a return on equity of 18.75%. The business had revenue of $10.47 million for the quarter, compared to analysts’ expectations of $11.90 million. During the same period last year, the company earned $0.22 earnings per share. On average, equities analysts anticipate that Eltek Ltd. will post 1.02 EPS for the current year.

Eltek 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.