Eltek Ltd. (NASDAQ:ELTK) Short Interest Up 214.8% in June
by Kim Johansen · The Markets DailyEltek Ltd. (NASDAQ:ELTK – Get Free Report) was the recipient of a large growth in short interest in the month of June. As of June 15th, there was short interest totaling 8,002 shares, a growth of 214.8% from the May 31st total of 2,542 shares. Currently, 0.4% of the shares of the company are short sold. Based on an average daily trading volume, of 9,238 shares, the short-interest ratio is presently 0.9 days.
Eltek Trading Up 1.4%
Shares of NASDAQ:ELTK traded up $0.13 on Friday, reaching $9.30. 602 shares of the company’s stock were exchanged, compared to its average volume of 7,631. The company has a fifty day moving average of $8.75 and a 200-day moving average of $8.76. Eltek has a twelve month low of $7.30 and a twelve month high of $11.69. The company has a market capitalization of $62.50 million, a price-to-earnings ratio of -20.67 and a beta of 0.75.
Eltek (NASDAQ:ELTK – Get Free Report) last released its quarterly earnings results on Wednesday, May 20th. The technology company reported ($0.42) earnings per share for the quarter. The business had revenue of $10.44 million during the quarter. Eltek had a negative net margin of 6.12% and a negative return on equity of 6.69%.
Analyst Ratings Changes
Separately, Weiss Ratings downgraded Eltek from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, June 12th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Eltek presently has an average rating of “Sell”.
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.