Eltek Ltd. (NASDAQ:ELTK) Sees Significant Increase in Short Interest
Eltek Ltd. (NASDAQ:ELTK) was the target of a large growth in short interest during the month of June. As of June 30th, there was short interest totalling 87,100 shares, a growth of 30.6% from the May 30th total of 66,700 shares. Based on an average trading volume of 1,390,000 shares, the short-interest ratio is presently 0.1 days. Approximately 9.9% of the shares of the stock are sold short.
ELTK stock traded up $0.01 during midday trading on Friday, reaching $4.25. 56,276 shares of the stock were exchanged, compared to its average volume of 160,982. Eltek has a 52 week low of $1.28 and a 52 week high of $11.56. The firm has a fifty day moving average of $4.52. The company has a quick ratio of 0.42, a current ratio of 0.66 and a debt-to-equity ratio of 2.00.
Eltek (NASDAQ:ELTK) last announced its earnings results on Wednesday, May 29th. The technology company reported $0.12 EPS for the quarter. The firm had revenue of $8.74 million for the quarter. Eltek had a negative return on equity of 129.61% and a negative net margin of 5.02%.
Eltek Ltd. manufactures, markets, and sells printed circuit boards (PCBs) in Israel, Europe, North America, India, and internationally. The company offers a range of custom designed PCBs, including rigid, double-sided, and multi-layer PCBs; and flexible circuitry, such as flex and flex rigid boards. It serves manufacturers of defense and aerospace, medical, industrial, telecom, and networking equipment, as well as contract electronic manufacturers and other industries.
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