Eltek Ltd. (NASDAQ:ELTK) Sees Large Decrease in Short Interest

Eltek Ltd. (NASDAQ:ELTK – Get Free Report) was the target of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totaling 2,406 shares, a decrease of 62.6% from the July 15th total of 6,438 shares. Based on an average trading volume of 12,340 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the company’s shares are sold short.

Wall Street Analyst Weigh In

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

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Eltek Price Performance

Shares of NASDAQ ELTK traded up $0.11 during midday trading on Friday, reaching $8.61. 531 shares of the stock were exchanged, compared to its average volume of 13,997. Eltek has a 12 month low of $7.30 and a 12 month high of $11.59. The business has a 50-day simple moving average of $8.88 and a two-hundred day simple moving average of $8.71. The company has a market capitalization of $57.83 million, a price-to-earnings ratio of -19.12 and a beta of 0.75.

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