Eltek (NASDAQ:ELTK) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Eltek Ltd. (NASDAQ:ELTK)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $10.84 and traded as high as $11.49. Eltek shares last traded at $11.43, with a volume of 6,840 shares trading hands.

Eltek Trading Up 0.7 %

The stock has a market capitalization of $69.38 million, a price-to-earnings ratio of 13.45 and a beta of 0.45. The firm’s fifty day moving average price is $11.12 and its 200 day moving average price is $10.84.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Foundry Partners LLC grew its stake in shares of Eltek by 14.2% in the third 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 in the last quarter. Yelin Lapidot Holdings Management Ltd. boosted its holdings in Eltek by 206.7% during the 4th 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 period. Northern Trust Corp acquired a new position in Eltek in the 4th quarter valued at about $405,000. Sunbelt Securities Inc. increased 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 purchasing an additional 1,020 shares during the period. Finally, Essex Investment Management Co. LLC acquired a new stake in shares of Eltek during the fourth quarter worth about $99,000. 64.58% of the stock is currently owned by institutional investors and hedge funds.

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.