Eltek Ltd. (NASDAQ:ELTK) Short Interest Down 62.6% in July

Eltek Ltd. (NASDAQ:ELTK) saw a large decrease in short interest during 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. Currently, 0.1% of the shares of the stock are sold short. Based on an average trading volume of 12,340 shares, the short-interest ratio is currently 0.2 days.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Eltek from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, June 12th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Eltek has an average rating of “Sell”.

Eltek Trading Up 2.4%

NASDAQ ELTK traded up $0.20 on Friday, reaching $8.70. 295 shares of the company were exchanged, compared to its average volume of 11,873. The business’s fifty day moving average price is $8.89 and its 200 day moving average price is $8.71. The stock has a market capitalization of $58.46 million, a P/E ratio of -19.33 and a beta of 0.75. Eltek has a fifty-two week low of $7.30 and a fifty-two week high of $11.59.

Eltek (NASDAQ:ELTK) last issued its earnings results on Wednesday, May 20th. The technology company reported ($0.42) earnings per share (EPS) for the quarter. Eltek had a negative return on equity of 6.69% and a negative net margin of 6.12%.The company had revenue of $10.44 million during the quarter.

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.