Eltek (NASDAQ:ELTK) Issues Earnings Results

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

Eltek Price Performance

NASDAQ ELTK opened at $7.89 on Friday. The company has a market capitalization of $53.02 million, a PE ratio of -17.53 and a beta of 0.75. The company has a fifty day moving average of $8.39 and a 200 day moving average of $8.86. Eltek has a 1 year low of $7.30 and a 1 year high of $12.19.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of Eltek from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 27th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Eltek currently has a consensus rating of “Sell”.

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.