Eltek (NASDAQ:ELTK) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of Eltek (NASDAQ:ELTK – Get Rating) in a note issued to investors on Wednesday. The firm set a “hold” rating on the technology company’s stock.

Eltek Stock Performance

NASDAQ:ELTK opened at $7.59 on Wednesday. The company has a quick ratio of 1.74, a current ratio of 2.22 and a debt-to-equity ratio of 0.07. The company has a market cap of $44.40 million, a P/E ratio of 10.37 and a beta of -1.41. Eltek has a fifty-two week low of $3.56 and a fifty-two week high of $7.82. The firm’s 50 day moving average is $4.29 and its two-hundred day moving average is $4.22.

Eltek (NASDAQ:ELTK – Get Rating) last issued its earnings results on Thursday, March 9th. The technology company reported $0.14 EPS for the quarter. Eltek had a net margin of 9.97% and a return on equity of 19.53%. Analysts expect that Eltek will post 0.94 EPS for the current year.

Hedge Funds Weigh In On Eltek

An institutional investor recently raised its position in Eltek stock. Renaissance Technologies LLC boosted its position in shares of Eltek Ltd. (NASDAQ:ELTK – Get Rating) by 9.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,454 shares of the technology company’s stock after purchasing an additional 5,631 shares during the period. Renaissance Technologies LLC owned approximately 1.07% of Eltek worth $259,000 at the end of the most recent reporting period. 2.15% of the stock is currently owned by institutional investors.

Eltek Company Profile

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Eltek Ltd. is engaged in the development, manufacture, marketing, and sale of custom made printed circuit boards. Its products include flex-rigid boards, rigid multilayer boards, high density interconnect, flex and multi-flex boards, Teflon and hybrid boards and backplanes. The company was founded on January 1, 1970 and is headquartered in Petach Tikva, Israel.