Zacks Small Cap Has Negative Forecast for Eltek Q4 Earnings

Eltek Ltd. (NASDAQ:ELTK) – Analysts at Zacks Small Cap dropped their Q4 2024 earnings per share (EPS) estimates for Eltek in a report issued on Wednesday, November 20th. Zacks Small Cap analyst T. Kerr now anticipates that the technology company will post earnings of $0.24 per share for the quarter, down from their previous forecast of $0.33. The consensus estimate for Eltek’s current full-year earnings is $0.87 per share. Zacks Small Cap also issued estimates for Eltek’s FY2025 earnings at $1.02 EPS.

Eltek Stock Up 1.1 %

NASDAQ:ELTK opened at $11.05 on Friday. The company has a market cap of $67.07 million, a PE ratio of 13.00 and a beta of 0.45. The business’s 50 day moving average is $10.76 and its two-hundred day moving average is $10.58. Eltek has a 52 week low of $9.00 and a 52 week high of $22.80.

Institutional Trading of Eltek

Institutional investors and hedge funds have recently modified their holdings of the business. Foundry Partners LLC boosted its holdings in shares of Eltek by 71.3% in the 2nd quarter. Foundry Partners LLC now owns 212,270 shares of the technology company’s stock valued at $2,070,000 after buying an additional 88,365 shares during the period. Renaissance Technologies LLC lifted its holdings in Eltek by 1.5% in the second quarter. Renaissance Technologies LLC now owns 90,723 shares of the technology company’s stock worth $885,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its stake in Eltek by 10.9% in the third quarter. Sunbelt Securities Inc. now owns 10,361 shares of the technology company’s stock valued at $113,000 after acquiring an additional 1,020 shares during the period. 64.58% of the stock is owned by institutional investors and hedge funds.

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.