Eltek (NASDAQ:ELTK) Now Covered by StockNews.com

StockNews.com started coverage on shares of Eltek (NASDAQ:ELTK) in a research report released on Tuesday. The firm issued a hold rating on the technology company’s stock.

Eltek Price Performance

Eltek stock opened at $8.30 on Tuesday. The firm has a 50 day simple moving average of $9.28 and a 200-day simple moving average of $10.39. The stock has a market cap of $55.73 million, a price-to-earnings ratio of 9.76 and a beta of 0.58. Eltek has a 1-year low of $7.65 and a 1-year high of $12.47.

Eltek Dividend Announcement

The firm also recently announced a — dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 22nd will be given a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. Eltek’s dividend payout ratio is currently 30.16%.

Institutional Trading of Eltek

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Yelin Lapidot Holdings Management Ltd. increased its position in shares of Eltek by 206.7% during the fourth quarter. Yelin Lapidot Holdings Management Ltd. now owns 209,024 shares of the technology company’s stock valued at $2,312,000 after acquiring an additional 140,868 shares during the last quarter. Northern Trust Corp purchased a new position in shares of Eltek during the 4th quarter worth approximately $405,000. Finally, Essex Investment Management Co. LLC purchased a new position in shares of Eltek during the 4th quarter worth approximately $99,000. 64.58% of the stock is currently owned by hedge funds and other institutional investors.

Eltek Company Profile

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.