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Eltek (NASDAQ:ELTK) Stock Crosses Above 200 Day Moving Average - What's Next?

Eltek logo with Computer and Technology background

Eltek Ltd. (NASDAQ:ELTK - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $10.62 and traded as high as $11.35. Eltek shares last traded at $11.35, with a volume of 6,219 shares trading hands.

Eltek Stock Down 2.9 %

The company has a market capitalization of $66.91 million, a PE ratio of 12.97 and a beta of 0.45. The company's 50 day moving average is $11.03 and its two-hundred day moving average is $10.62.

Hedge Funds Weigh In On Eltek

Institutional investors have recently bought and sold shares of the stock. Sunbelt Securities Inc. grew its stake 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 in the last quarter. Renaissance Technologies LLC grew its stake in shares of Eltek by 1.5% in the 2nd 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 in the last quarter. Finally, Foundry Partners LLC grew its stake in shares of 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 buying an additional 30,200 shares in the last quarter. 64.58% of the stock is owned by hedge funds and other institutional investors.

About Eltek

(Get Free Report)

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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