Eltek Ltd. (NASDAQ:ELTK) Short Interest Update

Eltek Ltd. (NASDAQ:ELTK) was the recipient of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 7,900 shares, a drop of 31.9% from the February 13th total of 11,600 shares. Based on an average daily trading volume, of 18,700 shares, the short-interest ratio is presently 0.4 days. Approximately 0.3% of the company’s shares are short sold.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Eltek in a research report on Thursday. They set a “hold” rating for the company.

Eltek Stock Performance

Shares of ELTK stock traded down $0.01 during trading hours on Monday, reaching $8.50. The company had a trading volume of 7,211 shares, compared to its average volume of 15,467. The stock’s fifty day simple moving average is $11.03 and its 200 day simple moving average is $10.90. The company has a market capitalization of $51.56 million, a P/E ratio of 9.99 and a beta of 0.36. Eltek has a twelve month low of $8.05 and a twelve month high of $12.47.

Institutional Investors Weigh In On Eltek

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ELTK. Yelin Lapidot Holdings Management Ltd. grew its stake in shares of Eltek by 206.7% during the fourth quarter. Yelin Lapidot Holdings Management Ltd. now owns 209,024 shares of the technology company’s stock valued at $2,312,000 after acquiring an additional 140,868 shares in the last quarter. Northern Trust Corp acquired a new stake in Eltek during the 4th quarter valued at approximately $405,000. Foundry Partners LLC increased its holdings in Eltek by 14.2% during the 3rd quarter. Foundry Partners LLC now owns 242,470 shares of the technology company’s stock worth $2,645,000 after purchasing an additional 30,200 shares during the last quarter. Essex Investment Management Co. LLC acquired a new position in shares of Eltek in the 4th quarter valued at approximately $99,000. Finally, Sunbelt Securities Inc. boosted its stake in shares of Eltek by 10.9% during the 3rd quarter. Sunbelt Securities Inc. now owns 10,361 shares of the technology company’s stock valued at $113,000 after buying an additional 1,020 shares during the last quarter. Hedge funds and other institutional investors own 64.58% of the company’s stock.

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.