Short Interest in Eltek Ltd. (NASDAQ:ELTK) Increases By 128.4%

Eltek Ltd. (NASDAQ:ELTK) was the target of a significant growth in short interest in February. As of February 13th, there was short interest totaling 7,286 shares, a growth of 128.4% from the January 29th total of 3,190 shares. Approximately 0.4% of the company’s stock are short sold. Based on an average daily volume of 78,416 shares, the short-interest ratio is presently 0.1 days. Based on an average daily volume of 78,416 shares, the short-interest ratio is presently 0.1 days. Approximately 0.4% of the company’s stock are short sold.

Eltek Stock Performance

Shares of Eltek stock traded up $0.21 on Friday, reaching $8.99. The stock had a trading volume of 676 shares, compared to its average volume of 46,636. Eltek has a fifty-two week low of $7.65 and a fifty-two week high of $12.19. The stock has a market cap of $60.41 million, a P/E ratio of 52.88 and a beta of 0.66. The business’s 50-day moving average price is $8.79 and its two-hundred day moving average price is $9.76.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Eltek in a research note on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Institutional Trading of Eltek

A hedge fund recently bought a new stake in Eltek stock. CSM Advisors LLC bought a new stake in Eltek Ltd. (NASDAQ:ELTK) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 96,209 shares of the technology company’s stock, valued at approximately $1,030,000. CSM Advisors LLC owned 1.43% of Eltek as of its most recent filing with the SEC. 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. It primarily serves medical technology, defense and aerospace, industrial, telecom, and networking equipment industries, as well as contract electronic manufacturers.