Short Interest in Eltek Ltd. (NASDAQ:ELTK) Decreases By 35.9%

Eltek Ltd. (NASDAQ:ELTK) saw a large decrease in short interest in May. As of May 31st, there was short interest totalling 8,200 shares, a decrease of 35.9% from the May 15th total of 12,800 shares. Based on an average daily volume of 17,000 shares, the short-interest ratio is currently 0.5 days. Approximately 0.3% of the company’s stock are short sold.

Eltek Trading Up 1.1%

Shares of NASDAQ ELTK opened at $10.15 on Monday. Eltek has a twelve month low of $7.65 and a twelve month high of $12.00. The company has a market capitalization of $68.15 million, a price-to-earnings ratio of 11.94 and a beta of 0.62. The business has a 50 day simple moving average of $9.42 and a 200-day simple moving average of $10.15.

Eltek (NASDAQ:ELTK) last issued its quarterly earnings data on Tuesday, May 20th. The technology company reported $0.15 EPS for the quarter. The firm had revenue of $12.76 million during the quarter. Eltek had a return on equity of 15.49% and a net margin of 11.51%. As a group, equities analysts predict that Eltek will post 0.87 earnings per share for the current year.

Eltek Dividend Announcement

The business also recently disclosed a — dividend, which was paid on Tuesday, April 29th. Investors of record on Tuesday, April 22nd were paid a dividend of $0.19 per share. The ex-dividend date was Tuesday, April 22nd. Eltek’s payout ratio is currently 37.25%.

Analyst Ratings Changes

Separately, Wall Street Zen began coverage on Eltek in a report on Friday, May 16th. They issued a “hold” rating for the company.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ELTK. Essex Investment Management Co. LLC acquired a new position in Eltek during the 4th quarter worth $99,000. Northern Trust Corp acquired a new position in Eltek during the 4th quarter worth $405,000. Finally, Yelin Lapidot Holdings Management Ltd. boosted its position in Eltek by 30.3% during the 1st quarter. Yelin Lapidot Holdings Management Ltd. now owns 272,282 shares of the technology company’s stock worth $2,268,000 after acquiring an additional 63,258 shares during the period. 64.58% of the stock is currently owned by institutional investors.

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.