Eltek (NASDAQ:ELTK) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of Eltek (NASDAQ:ELTK – Get Rating) in a research report issued on Wednesday. The brokerage set a “hold” rating on the technology company’s stock.

Eltek Stock Up 3.5 %

Eltek stock opened at $7.45 on Wednesday. The firm has a market capitalization of $43.58 million, a PE ratio of 10.49 and a beta of -1.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.22 and a quick ratio of 1.74. The company’s 50-day moving average is $4.16 and its 200-day moving average is $4.17. Eltek has a fifty-two week low of $3.56 and a fifty-two week high of $7.82.

Eltek (NASDAQ:ELTK – Get Rating) last announced its earnings results on Thursday, March 9th. The technology company reported $0.14 EPS for the quarter. Eltek had a net margin of 9.97% and a return on equity of 19.53%. Sell-side analysts anticipate that Eltek will post 0.61 earnings per share for the current year.

Institutional Trading of Eltek

A hedge fund recently raised its stake in Eltek stock. Renaissance Technologies LLC increased its stake in shares of Eltek Ltd. (NASDAQ:ELTK – Get Rating) by 9.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 62,454 shares of the technology company’s stock after buying an additional 5,631 shares during the period. Renaissance Technologies LLC owned 1.07% of Eltek worth $259,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 2.15% of the company’s stock.

About Eltek

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Eltek Ltd. is engaged in the development, manufacture, marketing, and sale of custom made printed circuit boards. Its products include flex-rigid boards, rigid multilayer boards, high density interconnect, flex and multi-flex boards, Teflon and hybrid boards and backplanes. The company was founded on January 1, 1970 and is headquartered in Petach Tikva, Israel.