Eltek Ltd. (NASDAQ:ELTK) Short Interest Up 174.4% in December

Eltek Ltd. (NASDAQ:ELTK) saw a significant growth in short interest in the month of December. As of December 31st, there was short interest totaling 4,918 shares, a growth of 174.4% from the December 15th total of 1,792 shares. Approximately 0.3% of the company’s stock are short sold. Based on an average daily volume of 8,752 shares, the short-interest ratio is currently 0.6 days. Based on an average daily volume of 8,752 shares, the short-interest ratio is currently 0.6 days. Approximately 0.3% of the company’s stock are short sold.

Institutional Investors Weigh In On Eltek

A hedge fund recently bought a new stake in Eltek stock. CSM Advisors LLC bought a new position in shares of Eltek Ltd. (NASDAQ:ELTK) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 96,209 shares of the technology company’s stock, valued at approximately $1,030,000. CSM Advisors LLC owned 1.43% of Eltek at the end of the most recent quarter. Institutional investors own 64.58% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Eltek in a report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Eltek has an average rating of “Hold”.

Eltek Price Performance

ELTK stock opened at $8.86 on Wednesday. Eltek has a 12 month low of $7.65 and a 12 month high of $12.19. The firm has a market cap of $59.55 million, a PE ratio of 52.12 and a beta of 0.65. The firm has a 50 day simple moving average of $9.24 and a 200 day simple moving average of $10.10.

Eltek (NASDAQ:ELTK) last released its earnings results on Tuesday, November 18th. The technology company reported ($0.03) earnings per share (EPS) for the quarter. The business had revenue of $13.27 million during the quarter. Eltek had a net margin of 2.35% and a return on equity of 2.68%. As a group, sell-side analysts expect that Eltek will post 0.87 earnings per share for the current year.

Eltek Company Profile

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.