StockNews.com began coverage on shares of Eltek (NASDAQ:ELTK - Free Report) in a report released on Tuesday morning. The firm issued a hold rating on the technology company's stock.
Eltek Trading Down 1.5 %
NASDAQ:ELTK traded down $0.13 during trading hours on Tuesday, reaching $8.30. 1,705 shares of the company were exchanged, compared to its average volume of 22,099. The stock's 50-day moving average is $9.34 and its 200-day moving average is $10.41. The firm has a market cap of $55.73 million, a PE ratio of 9.76 and a beta of 0.58. Eltek has a twelve month low of $7.65 and a twelve month high of $12.47.
Eltek Dividend Announcement
The company also recently disclosed a -- dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Tuesday, April 22nd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. Eltek's dividend payout ratio (DPR) is currently 30.16%.
Hedge Funds Weigh In On Eltek
A number of hedge funds and other institutional investors have recently made changes to their positions in ELTK. Essex Investment Management Co. LLC purchased a new stake in shares of Eltek in the fourth quarter valued at about $99,000. Northern Trust Corp acquired a new position in shares of Eltek in the fourth quarter worth about $405,000. Finally, Yelin Lapidot Holdings Management Ltd. raised its stake in Eltek by 206.7% during the fourth 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. Hedge funds and other institutional investors own 64.58% of the company's stock.
About Eltek
(
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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.
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