Eltek (NASDAQ:ELTK) Upgraded at StockNews.com

Eltek (NASDAQ:ELTK) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Eltek Stock Down 2.4 %

NASDAQ ELTK opened at $10.90 on Friday. Eltek has a 52 week low of $3.90 and a 52 week high of $22.80. The firm has a market capitalization of $66.16 million, a P/E ratio of 10.19 and a beta of -1.84. The company has a 50-day moving average price of $11.67 and a 200-day moving average price of $13.05.

Eltek (NASDAQ:ELTK) last released its quarterly earnings results on Monday, March 11th. The technology company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.09). Eltek had a net margin of 13.60% and a return on equity of 26.20%. The business had revenue of $12.32 million for the quarter, compared to analysts’ expectations of $12.20 million. As a group, equities research analysts anticipate that Eltek will post 1.12 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Sunbelt Securities Inc. grew its stake in shares of Eltek by 46.6% during the 1st quarter. Sunbelt Securities Inc. now owns 9,269 shares of the technology company’s stock valued at $103,000 after acquiring an additional 2,945 shares during the period. Quadrature Capital Ltd bought a new position in shares of Eltek during the 4th quarter valued at approximately $377,000. Navellier & Associates Inc. grew its stake in shares of Eltek by 106.4% during the 4th quarter. Navellier & Associates Inc. now owns 81,828 shares of the technology company’s stock valued at $1,142,000 after acquiring an additional 42,178 shares during the period. Finally, Jump Financial LLC bought a new position in shares of Eltek during the 4th quarter valued at approximately $183,000. 64.58% of the stock is currently owned by institutional investors.

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.