Eltek (NASDAQ:ELTK) Stock Crosses Above Two Hundred Day Moving Average - Here's What Happened

Eltek Ltd. (NASDAQ:ELTK - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.71 and traded as high as $11.30. Eltek shares last traded at $11.16, with a volume of 7,093 shares changing hands.

Eltek Trading Up 0.2 %

The company's 50-day moving average is $11.04 and its 200 day moving average is $10.73. The stock has a market capitalization of $67.90 million, a PE ratio of 13.16 and a beta of 0.45.

Institutional Investors Weigh In On Eltek

Institutional investors and hedge funds have recently made changes to their positions in the stock. Foundry Partners LLC raised its stake in Eltek by 14.2% in the 3rd quarter. Foundry Partners LLC now owns 242,470 shares of the technology company's stock worth $2,645,000 after acquiring an additional 30,200 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Eltek by 1.5% in the second quarter. Renaissance Technologies LLC now owns 90,723 shares of the technology company's stock worth $885,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Sunbelt Securities Inc. lifted its holdings in shares of Eltek by 10.9% during the third quarter. Sunbelt Securities Inc. now owns 10,361 shares of the technology company's stock worth $113,000 after purchasing an additional 1,020 shares during the period. 64.58% of the stock is currently owned by institutional investors and hedge funds.

About Eltek

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.