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

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

Eltek Stock Up 1.4 %

Shares of NASDAQ:ELTK opened at $8.50 on Thursday. The business has a fifty day simple moving average of $11.03 and a 200-day simple moving average of $10.90. Eltek has a 52 week low of $8.05 and a 52 week high of $12.47. The company has a market cap of $51.59 million, a P/E ratio of 10.00 and a beta of 0.36.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Foundry Partners LLC lifted its stake in shares of Eltek by 14.2% in the third quarter. Foundry Partners LLC now owns 242,470 shares of the technology company’s stock worth $2,645,000 after acquiring an additional 30,200 shares in the last quarter. Yelin Lapidot Holdings Management Ltd. lifted its stake in shares of Eltek by 206.7% in 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. Northern Trust Corp acquired a new position in shares of Eltek in the fourth quarter worth about $405,000. Sunbelt Securities Inc. lifted its stake in shares of Eltek by 10.9% in the third quarter. Sunbelt Securities Inc. now owns 10,361 shares of the technology company’s stock worth $113,000 after acquiring an additional 1,020 shares in the last quarter. Finally, Essex Investment Management Co. LLC acquired a new position in shares of Eltek in the fourth quarter worth about $99,000. Institutional investors and hedge funds own 64.58% of the company’s stock.

About Eltek

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.