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

StockNews.com initiated 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

NASDAQ:ELTK opened at $8.53 on Friday. The stock has a market capitalization of $51.77 million, a P/E ratio of 10.04 and a beta of 0.36. The company has a 50 day moving average price of $10.77 and a 200 day moving average price of $10.83. Eltek has a fifty-two week low of $8.05 and a fifty-two week high of $12.47.

Hedge Funds Weigh In On Eltek

Hedge funds have recently made changes to their positions in the stock. Essex Investment Management Co. LLC purchased a new position in shares of Eltek during the 4th quarter worth approximately $99,000. Sunbelt Securities Inc. boosted its position in Eltek by 10.9% in the 3rd quarter. Sunbelt Securities Inc. now owns 10,361 shares of the technology company’s stock valued at $113,000 after buying an additional 1,020 shares during the period. Northern Trust Corp purchased a new position in Eltek in the 4th quarter valued at approximately $405,000. Yelin Lapidot Holdings Management Ltd. boosted its position in Eltek by 206.7% in 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 during the period. Finally, Foundry Partners LLC boosted its position in Eltek by 14.2% in the 3rd quarter. Foundry Partners LLC now owns 242,470 shares of the technology company’s stock valued at $2,645,000 after buying an additional 30,200 shares during the period. 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.