Short Interest in Eltek Ltd. (NASDAQ:ELTK) Decreases By 31.8%

Eltek Ltd. (NASDAQ:ELTK) was the target of a large decrease in short interest in April. As of April 15th, there was short interest totaling 3,182 shares, a decrease of 31.8% from the March 31st total of 4,667 shares. Based on an average trading volume of 3,163 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.2% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of Eltek from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

Eltek Stock Down 0.9%

Shares of ELTK stock traded down $0.08 during mid-day trading on Thursday, hitting $8.80. 9,512 shares of the stock were exchanged, compared to its average volume of 14,621. The firm has a fifty day moving average of $8.59 and a 200 day moving average of $9.18. Eltek has a 52-week low of $7.73 and a 52-week high of $12.19. The company has a market cap of $59.14 million, a PE ratio of 73.33 and a beta of 0.70.

Eltek (NASDAQ:ELTK) last posted its earnings results on Monday, March 9th. The technology company reported ($0.05) earnings per share (EPS) for the quarter. Eltek had a return on equity of 1.85% and a net margin of 1.59%.The firm had revenue of $13.24 million for the quarter.

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. It primarily serves medical technology, defense and aerospace, industrial, telecom, and networking equipment industries, as well as contract electronic manufacturers.