Eltek Ltd. (NASDAQ:ELTK) Short Interest Update

Eltek Ltd. (NASDAQ:ELTK) was the recipient of a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 20,300 shares, a growth of 5.7% from the December 15th total of 19,200 shares. Based on an average daily volume of 20,800 shares, the days-to-cover ratio is presently 1.0 days. Approximately 0.6% of the shares of the company are short sold.

Eltek Price Performance

NASDAQ:ELTK traded down $0.33 during midday trading on Friday, hitting $11.03. The company’s stock had a trading volume of 3,404 shares, compared to its average volume of 16,468. Eltek has a fifty-two week low of $9.00 and a fifty-two week high of $22.80. The firm has a market cap of $66.92 million, a P/E ratio of 12.97 and a beta of 0.45. The firm’s 50 day moving average is $11.03 and its 200-day moving average is $10.65.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ELTK. Foundry Partners LLC raised its stake in shares of Eltek by 14.2% during the 3rd quarter. Foundry Partners LLC now owns 242,470 shares of the technology company’s stock valued at $2,645,000 after buying an additional 30,200 shares during the last quarter. Renaissance Technologies LLC raised its position in Eltek by 1.5% during the second quarter. Renaissance Technologies LLC now owns 90,723 shares of the technology company’s stock valued at $885,000 after acquiring an additional 1,300 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its holdings in Eltek by 10.9% in the third quarter. Sunbelt Securities Inc. now owns 10,361 shares of the technology company’s stock valued at $113,000 after acquiring an additional 1,020 shares during the period. 64.58% 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, 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.