Eltek Ltd. (NASDAQ:ELTK) Sees Significant Drop in Short Interest

Eltek Ltd. (NASDAQ:ELTK) saw a significant decline in short interest in the month of March. As of March 13th, there was short interest totaling 5,715 shares, a decline of 33.2% from the February 26th total of 8,560 shares. Based on an average trading volume of 4,478 shares, the short-interest ratio is currently 1.3 days. Currently, 0.3% of the shares of the company are short sold.

Eltek Trading Down 0.4%

Shares of NASDAQ:ELTK traded down $0.04 on Friday, reaching $8.21. 4,694 shares of the company’s stock were exchanged, compared to its average volume of 3,865. Eltek has a twelve month low of $7.65 and a twelve month high of $12.19. The company has a fifty day moving average of $8.85 and a 200-day moving average of $9.58. The company has a market capitalization of $55.14 million, a price-to-earnings ratio of 68.38 and a beta of 0.65.

Eltek (NASDAQ:ELTK) last released its quarterly earnings results on Monday, March 9th. The technology company reported ($0.05) earnings per share for the quarter. The business had revenue of $13.24 million during the quarter. Eltek had a net margin of 1.59% and a return on equity of 1.85%. As a group, equities research analysts forecast that Eltek will post 0.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.