Eltek (NASDAQ:ELTK) Upgraded by ValuEngine to “Buy”

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ValuEngine upgraded shares of Eltek (NASDAQ:ELTK) from a hold rating to a buy rating in a report released on Saturday, ValuEngine reports.

Shares of NASDAQ ELTK opened at $3.42 on Friday. Eltek has a fifty-two week low of $1.28 and a fifty-two week high of $11.56. The business has a 50 day moving average price of $3.71 and a two-hundred day moving average price of $3.41. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.63 and a current ratio of 0.88.

Eltek (NASDAQ:ELTK) last issued its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.19 earnings per share for the quarter. Eltek had a negative return on equity of 2.84% and a negative net margin of 0.19%. The firm had revenue of $8.20 million during the quarter.

An institutional investor recently bought a new position in Eltek stock. Advisor Group Inc. bought a new position in shares of Eltek Ltd. (NASDAQ:ELTK) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 66,942 shares of the technology company’s stock, valued at approximately $291,000. Advisor Group Inc. owned about 3.30% of Eltek as of its most recent SEC filing. 8.44% of the stock is currently owned by institutional investors and hedge funds.

Eltek Company Profile

Eltek Ltd. manufactures, markets, and sells printed circuit boards (PCBs) in Israel, Europe, North America, India, and internationally. The company offers a range of custom designed PCBs, including rigid, double-sided, and multi-layer PCBs; and flexible circuitry, such as flex and flex rigid boards. It serves manufacturers of defense and aerospace, medical, industrial, telecom, and networking equipment, as well as contract electronic manufacturers and other industries.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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