Eltek (NASDAQ:ELTK) Share Price Crosses Above 50-Day Moving Average – Here’s Why

Eltek Ltd. (NASDAQ:ELTK – Get Free Report) crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $8.83 and traded as high as $9.20. Eltek shares last traded at $8.51, with a volume of 8,316 shares trading hands.

Analyst Ratings Changes

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

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Eltek Trading Down 8.5%

The company’s 50-day moving average price is $8.83 and its two-hundred day moving average price is $8.74. The company has a market cap of $57.19 million, a P/E ratio of -18.91 and a beta of 0.75.

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. 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 during the quarter.

Eltek Company Profile

(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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