Short Interest in Eltek Ltd. (NASDAQ:ELTK) Grows By 214.8%

Eltek Ltd. (NASDAQ:ELTK – Get Free Report) was the recipient of a large growth in short interest during the month of June. As of June 15th, there was short interest totaling 8,002 shares, a growth of 214.8% from the May 31st total of 2,542 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average daily volume of 9,238 shares, the days-to-cover ratio is currently 0.9 days.

Analysts Set New Price Targets

Separately, Weiss Ratings cut Eltek from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, June 12th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Eltek currently has a consensus rating of “Sell”.

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Eltek Trading Up 1.4%

Shares of Eltek stock traded up $0.13 during trading on Friday, hitting $9.30. 602 shares of the stock were exchanged, compared to its average volume of 7,631. The company has a fifty day moving average price of $8.75 and a 200-day moving average price of $8.76. The stock has a market capitalization of $62.50 million, a price-to-earnings ratio of -20.67 and a beta of 0.75. Eltek has a 1-year low of $7.30 and a 1-year high of $11.69.

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

About Eltek

(Get Free Report)

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.

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