Eltek Ltd. (NASDAQ:ELTK) Short Interest Update

Eltek Ltd. (NASDAQ:ELTK) saw a significant decline in short interest in the month of March. As of March 13th, there was short interest totaling 5,715 shares, a decline of 33.2% from the February 26th total of 8,560 shares. Based on an average daily volume of 4,478 shares, the short-interest ratio is presently 1.3 days. Currently, 0.3% of the shares of the company are sold short.

Eltek Stock Down 0.4%

Shares of NASDAQ:ELTK traded down $0.04 during midday trading on Friday, reaching $8.21. 4,694 shares of the company traded hands, compared to its average volume of 3,865. The firm’s fifty day moving average price is $8.85 and its two-hundred day moving average price is $9.57. The firm has a market capitalization of $55.14 million, a price-to-earnings ratio of 68.38 and a beta of 0.65. Eltek has a 12 month low of $7.65 and a 12 month high of $12.19.

Eltek (NASDAQ:ELTK) last issued its earnings results on Monday, March 9th. The technology company reported ($0.05) EPS for the quarter. Eltek had a return on equity of 1.85% and a net margin of 1.59%.The company had revenue of $13.24 million during the quarter. Analysts forecast that Eltek will post 0.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Eltek in a report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Eltek currently has an average rating of “Hold”.

About Eltek

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.