Eltek (NASDAQ:ELTK) Shares Pass Above 200 Day Moving Average – Time to Sell?

Shares of Eltek Ltd. (NASDAQ:ELTKGet Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $10.54 and traded as high as $11.00. Eltek shares last traded at $11.00, with a volume of 19,529 shares.

Eltek Price Performance

The stock has a market cap of $66.77 million, a P/E ratio of 11.46 and a beta of 0.45. The business’s fifty day moving average price is $10.69 and its 200 day moving average price is $10.54.

Eltek (NASDAQ:ELTKGet Free Report) last posted its earnings results on Thursday, August 15th. The technology company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.14). The company had revenue of $10.47 million during the quarter, compared to the consensus estimate of $11.90 million. Eltek had a return on equity of 18.75% and a net margin of 12.85%. During the same period last year, the company posted $0.22 EPS. On average, analysts predict that Eltek Ltd. will post 1.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Eltek stock. Renaissance Technologies LLC increased its position in Eltek Ltd. (NASDAQ:ELTKFree Report) by 1.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 90,723 shares of the technology company’s stock after buying an additional 1,300 shares during the quarter. Renaissance Technologies LLC owned 1.49% of Eltek worth $885,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 64.58% of the company’s stock.

About Eltek

(Get Free Report)

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.

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