Eltek (NASDAQ:ELTK) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Eltek Ltd. (NASDAQ:ELTK)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $10.53 and traded as high as $11.10. Eltek shares last traded at $11.06, with a volume of 10,841 shares trading hands.

Eltek Trading Up 0.4 %

The company has a market cap of $67.37 million, a price-to-earnings ratio of 13.06 and a beta of 0.44. The business has a fifty day moving average of $10.93 and a two-hundred day moving average of $10.53.

Hedge Funds Weigh In On Eltek

Hedge funds and other institutional investors have recently modified their holdings of the business. Foundry Partners LLC grew its position in shares of Eltek by 71.3% in the second quarter. Foundry Partners LLC now owns 212,270 shares of the technology company’s stock valued at $2,070,000 after purchasing an additional 88,365 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Eltek by 1.5% during the second quarter. Renaissance Technologies LLC now owns 90,723 shares of the technology company’s stock worth $885,000 after buying an additional 1,300 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its stake in Eltek by 10.9% during the third quarter. Sunbelt Securities Inc. now owns 10,361 shares of the technology company’s stock worth $113,000 after buying an additional 1,020 shares during the last quarter. 64.58% of the stock is 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.