Eltek (NASDAQ:ELTK) Stock Passes Below 200-Day Moving Average – Should You Sell?

Eltek Ltd. (NASDAQ:ELTK) shares crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $9.48 and traded as low as $8.30. Eltek shares last traded at $8.2010, with a volume of 127 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Eltek in a report on Friday, March 27th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Eltek Price Performance

The stock has a market cap of $53.52 million, a P/E ratio of 66.38 and a beta of 0.70. The business’s fifty day moving average price is $8.70 and its 200 day moving average price is $9.46.

Eltek (NASDAQ:ELTK) last posted its earnings results on Monday, March 9th. The technology company reported ($0.05) EPS for the quarter. The company had revenue of $13.24 million during the quarter. Eltek had a return on equity of 1.85% and a net margin of 1.59%. On average, analysts predict that Eltek Ltd. will post 0.87 earnings per share for the current fiscal year.

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.