Eltek (NASDAQ:ELTK) Shares Cross Above 50-Day Moving Average – Should You Sell?

Shares of Eltek Ltd. (NASDAQ:ELTK) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $8.83 and traded as high as $9.20. Eltek shares last traded at $8.51, with a volume of 8,316 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded shares of Eltek from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, June 12th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Eltek currently has a consensus rating of “Sell”.

Eltek Trading Down 1.6%

The firm has a 50 day moving average of $8.83 and a 200-day moving average of $8.74. The company has a market cap of $57.32 million, a P/E ratio of -18.96 and a beta of 0.75.

Eltek (NASDAQ:ELTK) last posted its quarterly earnings results on Wednesday, May 20th. The technology company reported ($0.42) earnings per share for the quarter. Eltek had a negative return on equity of 6.69% and a negative net margin of 6.12%.The business had revenue of $10.44 million during the quarter.

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.