StockNews.com assumed coverage on shares of Eltek (NASDAQ:ELTK - Free Report) in a research note issued to investors on Friday. The brokerage issued a hold rating on the technology company's stock.
Eltek Stock Up 0.8 %
ELTK stock traded up $0.07 during midday trading on Friday, reaching $8.60. 16,029 shares of the company's stock traded hands, compared to its average volume of 26,801. The firm's fifty day moving average price is $10.77 and its 200-day moving average price is $10.83. Eltek has a 52 week low of $8.05 and a 52 week high of $12.47. The company has a market cap of $52.19 million, a price-to-earnings ratio of 10.12 and a beta of 0.36.
Institutional Trading of Eltek
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ELTK. Essex Investment Management Co. LLC purchased a new position in shares of Eltek during the fourth quarter valued at approximately $99,000. Sunbelt Securities Inc. boosted its holdings in Eltek by 10.9% during the 3rd 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 during the last quarter. Northern Trust Corp bought a new stake in shares of Eltek in the 4th quarter worth $405,000. Yelin Lapidot Holdings Management Ltd. raised its holdings 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 valued at $2,312,000 after purchasing an additional 140,868 shares during the last quarter. Finally, Foundry Partners LLC lifted its position 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 valued at $2,645,000 after purchasing an additional 30,200 shares in the last quarter. 64.58% of the stock is owned by institutional investors.
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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