Eltek (NASDAQ:ELTK) Now Covered by StockNews.com

Stock analysts at StockNews.com started coverage on shares of Eltek (NASDAQ:ELTK) in a report released on Friday. The firm set a “hold” rating on the technology company’s stock.

Eltek Stock Performance

ELTK stock opened at $8.68 on Friday. The stock has a market capitalization of $52.65 million, a PE ratio of 10.21 and a beta of 0.36. The company has a fifty day moving average of $10.82 and a 200-day moving average of $10.84. Eltek has a one year low of $8.05 and a one year high of $12.47.

Institutional Investors Weigh In On Eltek

A number of institutional investors have recently added to or reduced their stakes in ELTK. Foundry Partners LLC raised its stake in shares of Eltek by 14.2% during the 3rd 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 in the last quarter. Yelin Lapidot Holdings Management Ltd. grew its holdings in Eltek by 206.7% during the fourth quarter. Yelin Lapidot Holdings Management Ltd. now owns 209,024 shares of the technology company’s stock worth $2,312,000 after acquiring an additional 140,868 shares during the period. Northern Trust Corp purchased a new position in Eltek in the fourth quarter worth $405,000. Sunbelt Securities Inc. lifted its holdings 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. Finally, Essex Investment Management Co. LLC purchased a new stake in shares of Eltek during the 4th quarter worth $99,000. 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.