Eltek (NASDAQ:ELTK) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Eltek Ltd. (NASDAQ:ELTK)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $8.75 and traded as high as $10.52. Eltek shares last traded at $10.14, with a volume of 22,591 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Eltek from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 28th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Eltek Stock Performance

The business has a fifty day simple moving average of $8.40 and a 200 day simple moving average of $8.73. The stock has a market cap of $65.12 million, a price-to-earnings ratio of -21.53 and a beta of 0.75.

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