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

StockNews.com assumed coverage on shares of Eltek (NASDAQ:ELTK) in a report released on Sunday. The brokerage set a “hold” rating on the technology company’s stock.

Eltek Stock Up 0.2 %

ELTK opened at $8.22 on Friday. The company has a market capitalization of $49.89 million, a PE ratio of 9.67 and a beta of 0.58. Eltek has a 52 week low of $8.05 and a 52 week high of $12.47. The firm has a 50-day simple moving average of $10.24 and a two-hundred day simple moving average of $10.66.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ELTK. Yelin Lapidot Holdings Management Ltd. raised its position in shares of Eltek by 206.7% during the 4th quarter. Yelin Lapidot Holdings Management Ltd. now owns 209,024 shares of the technology company’s stock valued at $2,312,000 after buying an additional 140,868 shares in the last quarter. Sunbelt Securities Inc. boosted its holdings in Eltek by 10.9% during the 3rd 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. Essex Investment Management Co. LLC purchased a new stake in shares of Eltek during the fourth quarter valued at $99,000. Finally, Northern Trust Corp bought a new position in Eltek in the 4th quarter worth about $405,000. 64.58% of the stock is currently owned by institutional investors.

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.