Eltek (NASDAQ:ELTK) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Eltek (NASDAQ:ELTK) in a research note published on Friday. The brokerage issued a hold rating on the technology company’s stock.

Eltek Trading Down 1.5 %

NASDAQ:ELTK opened at $8.53 on Friday. The stock has a market cap of $51.77 million, a price-to-earnings ratio of 10.04 and a beta of 0.36. The stock has a 50-day moving average price of $10.77 and a two-hundred day moving average price of $10.83. Eltek has a 1 year low of $8.05 and a 1 year high of $12.47.

Institutional Trading of Eltek

Several hedge funds have recently bought and sold shares of the stock. Yelin Lapidot Holdings Management Ltd. increased its position in shares of 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 in the last quarter. Sunbelt Securities Inc. boosted its stake in Eltek by 10.9% in the 3rd quarter. Sunbelt Securities Inc. now owns 10,361 shares of the technology company’s stock worth $113,000 after purchasing an additional 1,020 shares during the period. Foundry Partners LLC boosted its stake in Eltek by 14.2% in the 3rd quarter. Foundry Partners LLC now owns 242,470 shares of the technology company’s stock worth $2,645,000 after purchasing an additional 30,200 shares during the period. Essex Investment Management Co. LLC bought a new position in Eltek during the 4th quarter worth about $99,000. Finally, Northern Trust Corp acquired a new stake in shares of Eltek in the 4th quarter valued at about $405,000. 64.58% of the stock is currently 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.