Eltek (NASDAQ:ELTK) Share Price Crosses Below 200 Day Moving Average – Time to Sell?

Eltek Ltd. (NASDAQ:ELTK) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.75 and traded as low as $8.68. Eltek shares last traded at $9.23, with a volume of 3,050 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings cut Eltek from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, June 12th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Eltek presently has a consensus rating of “Sell”.

Eltek Price Performance

The firm has a market capitalization of $60.08 million, a PE ratio of -19.87 and a beta of 0.75. The company has a fifty day moving average of $8.96 and a 200-day moving average of $8.75.

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

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.