Eltek (NASDAQ:ELTK) Insider Gad Dovev Sells 4,260 Shares of Stock

Eltek Ltd. (NASDAQ:ELTK) insider Gad Dovev sold 4,260 shares of the company’s stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $8.52, for a total transaction of $36,295.20. Following the completion of the sale, the insider directly owned 500 shares in the company, valued at $4,260. This represents a 89.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Eltek Price Performance

Shares of ELTK stock opened at $8.23 on Wednesday. The firm has a fifty day moving average of $8.35 and a two-hundred day moving average of $8.58. The firm has a market cap of $55.34 million, a P/E ratio of -9.05 and a beta of 0.74. Eltek Ltd. has a 1-year low of $7.30 and a 1-year high of $11.59.

Eltek (NASDAQ:ELTK) last issued its quarterly earnings results on Tuesday, August 18th. The technology company reported ($0.41) EPS for the quarter. Eltek had a negative return on equity of 13.57% and a negative net margin of 12.66%.The company had revenue of $11.53 million for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Eltek in a report on Wednesday, September 9th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

About Eltek

Eltek Ltd. is an Israel-based manufacturer of printed circuit boards (PCBs) for applications that require advanced design, reliability, and performance. The company produces rigid multilayer, flexible, rigid-flexible, and high-density interconnect circuit boards, as well as prototype and quick-turn products.

Eltek serves customers in industries including aerospace and defense, medical equipment, industrial systems, communications, automotive, and other technology markets. Its products are used in electronic systems that may require complex interconnections, compact designs, and resistance to demanding operating conditions.

Founded in 1970 and headquartered in Petah Tikva, Israel, Eltek sells its products in Israel and international markets, including North America, Europe, and Asia.