Eltek Ltd. (NASDAQ:ELTK) Short Interest Update

Eltek Ltd. (NASDAQ:ELTK) saw a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 10,600 shares, an increase of 34.2% from the February 28th total of 7,900 shares. Approximately 0.3% of the company’s shares are sold short. Based on an average daily trading volume, of 16,600 shares, the days-to-cover ratio is currently 0.6 days.

Eltek Trading Down 2.7 %

Shares of ELTK traded down $0.23 during mid-day trading on Monday, hitting $8.26. The company’s stock had a trading volume of 7,004 shares, compared to its average volume of 25,910. The company’s 50-day moving average is $10.53 and its 200-day moving average is $10.75. The firm has a market capitalization of $50.13 million, a price-to-earnings ratio of 9.72 and a beta of 0.36. Eltek has a 52-week low of $8.05 and a 52-week high of $12.47.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Eltek in a report on Saturday. They issued a “hold” rating on the stock.

Hedge Funds Weigh In On Eltek

Several hedge funds have recently modified their holdings of ELTK. Essex Investment Management Co. LLC acquired a new stake in shares of Eltek during the fourth quarter worth about $99,000. Sunbelt Securities Inc. raised 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 worth $113,000 after buying an additional 1,020 shares during the period. Northern Trust Corp purchased a new position in Eltek during the fourth quarter valued at $405,000. Finally, Yelin Lapidot Holdings Management Ltd. boosted its holdings in Eltek by 206.7% in the 4th quarter. Yelin Lapidot Holdings Management Ltd. now owns 209,024 shares of the technology company’s stock worth $2,312,000 after buying an additional 140,868 shares during the last quarter. Institutional investors and hedge funds own 64.58% of the company’s stock.

Eltek Company Profile

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.