Short Interest in Eltek Ltd. (NASDAQ:ELTK) Rises By 34.2%

Eltek Ltd. (NASDAQ:ELTK - Get Free Report) saw a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 10,600 shares, a growth of 34.2% from the February 28th total of 7,900 shares. Based on an average trading volume of 16,600 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.3% of the company's shares are sold short.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Eltek in a research report on Saturday, March 29th. They set a "hold" rating on the stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Yelin Lapidot Holdings Management Ltd. grew its stake in 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 purchasing an additional 140,868 shares during the period. Northern Trust Corp bought a new stake in shares of Eltek during the 4th quarter valued at $405,000. Sunbelt Securities Inc. grew its position in shares of 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 buying an additional 1,020 shares during the period. Finally, Essex Investment Management Co. LLC bought a new position in shares of Eltek in the 4th quarter worth about $99,000. Institutional investors own 64.58% of the company's stock.

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Eltek Price Performance

ELTK stock traded up $0.02 during trading on Friday, reaching $8.22. The company had a trading volume of 18,873 shares, compared to its average volume of 25,371. Eltek has a 52 week low of $8.05 and a 52 week high of $12.47. The business has a 50 day moving average of $10.30 and a 200 day moving average of $10.68. The company has a market cap of $49.89 million, a P/E ratio of 9.67 and a beta of 0.58.

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.