Short Interest in Eltek Ltd. (NASDAQ:ELTK) Expands By 5.7%

Eltek Ltd. (NASDAQ:ELTK - Get Free Report) saw a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 20,300 shares, a growth of 5.7% from the December 31st total of 19,200 shares. Based on an average daily trading volume, of 20,800 shares, the short-interest ratio is currently 1.0 days. Currently, 0.6% of the company's stock are short sold.

Eltek Price Performance

Shares of NASDAQ ELTK traded down $0.14 during midday trading on Thursday, hitting $11.26. 13,147 shares of the company's stock were exchanged, compared to its average volume of 11,719. The firm's fifty day simple moving average is $11.06 and its 200-day simple moving average is $10.76. The company has a market cap of $68.35 million, a PE ratio of 13.25 and a beta of 0.45. Eltek has a twelve month low of $9.00 and a twelve month high of $22.80.

Hedge Funds Weigh In On Eltek

Several large investors have recently bought and sold shares of ELTK. Yelin Lapidot Holdings Management Ltd. lifted its holdings in shares of 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 purchasing an additional 140,868 shares during the last quarter. Foundry Partners LLC boosted its stake in shares of Eltek by 14.2% during the third quarter. Foundry Partners LLC now owns 242,470 shares of the technology company's stock worth $2,645,000 after buying an additional 30,200 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Eltek by 1.5% during the second quarter. Renaissance Technologies LLC now owns 90,723 shares of the technology company's stock worth $885,000 after buying an additional 1,300 shares during the last quarter. Finally, Sunbelt Securities Inc. increased 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 acquiring an additional 1,020 shares during the period. Institutional investors and hedge funds 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.