Eltek Ltd. (NASDAQ:ELTK) Sees Significant Decline in Short Interest

Eltek Ltd. (NASDAQ:ELTK) was the target of a large decrease in short interest in the month of March. As of March 31st, there was short interest totaling 4,667 shares, a decrease of 18.3% from the March 15th total of 5,715 shares. Based on an average daily trading volume, of 3,671 shares, the days-to-cover ratio is presently 1.3 days. Approximately 0.2% of the company’s stock are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Eltek in a research report on Friday, March 27th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, Eltek has a consensus rating of “Hold”.

Eltek Stock Up 1.2%

NASDAQ ELTK traded up $0.10 on Thursday, reaching $8.29. The stock had a trading volume of 1,501 shares, compared to its average volume of 16,193. The firm has a market capitalization of $55.71 million, a price-to-earnings ratio of 69.08 and a beta of 0.70. The stock has a fifty day moving average price of $8.62 and a two-hundred day moving average price of $9.36. Eltek has a 12-month low of $7.73 and a 12-month high of $12.19.

Eltek (NASDAQ:ELTK) last issued its quarterly earnings results on Monday, March 9th. The technology company reported ($0.05) earnings per share for the quarter. The business had revenue of $13.24 million for the quarter. Eltek had a return on equity of 1.85% and a net margin of 1.59%. Sell-side analysts forecast that Eltek will post 0.87 earnings per share for the current fiscal year.

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. It primarily serves medical technology, defense and aerospace, industrial, telecom, and networking equipment industries, as well as contract electronic manufacturers.