Eltek Ltd. (NASDAQ:ELTK) Sees Significant Drop in Short Interest

Eltek Ltd. (NASDAQ:ELTK) saw a significant drop in short interest in the month of March. As of March 13th, there was short interest totaling 5,715 shares, a drop of 33.2% from the February 26th total of 8,560 shares. Based on an average daily volume of 4,478 shares, the short-interest ratio is currently 1.3 days. Currently, 0.3% of the shares of the stock are short sold.

Eltek Price Performance

NASDAQ:ELTK traded down $0.04 during mid-day trading on Friday, reaching $8.21. The stock had a trading volume of 4,694 shares, compared to its average volume of 3,865. Eltek has a 12 month low of $7.65 and a 12 month high of $12.19. The stock has a market capitalization of $55.14 million, a PE ratio of 68.38 and a beta of 0.65. The stock has a 50-day simple moving average of $8.85 and a two-hundred day simple moving average of $9.58.

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

Analysts Set New Price Targets

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

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.