Eltek Ltd. (NASDAQ:ELTK – Get Free Report) was the target of a large drop in short interest during the month of September. As of September 30th, there was short interest totaling 1,718 shares, a drop of 60.3% from the September 15th total of 4,330 shares. Based on an average trading volume of 2,141 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.1% of the company’s shares are sold short.
Insider Buying and Selling
In other Eltek news, insider Gad Dovev sold 4,260 shares of Eltek stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $8.52, for a total value of $36,295.20. Following the transaction, the insider directly owned 500 shares of the company’s stock, valued at $4,260. The trade was a 89.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 72.02% of the stock is owned by company insiders.
Eltek Trading Down 1.5%
Shares of NASDAQ:ELTK traded down $0.11 on Wednesday, hitting $7.40. 2,428 shares of the company were exchanged, compared to its average volume of 11,479. Eltek has a 1-year low of $7.00 and a 1-year high of $11.59. The firm has a market capitalization of $49.73 million, a P/E ratio of -8.13 and a beta of 0.68. The stock’s 50 day moving average price is $8.11 and its 200 day moving average price is $8.46.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Eltek in a report on Wednesday, September 9th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Eltek currently has a consensus rating of “Sell”.
View Our Latest Report on ELTK
Eltek Company Profile
Eltek Ltd. is an Israel-based manufacturer of printed circuit boards (PCBs) for customers that require complex, high-reliability electronic interconnect solutions. The company develops and produces multilayer boards, rigid-flex and flex-rigid boards, high-density interconnect (HDI) boards, radio-frequency and microwave boards, and metal-backed boards.
Eltek’s products are used in a range of applications, including defense and aerospace systems, medical equipment, industrial electronics, telecommunications, and other advanced electronic devices.
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