Eltek (NASDAQ:ELTK) Shares Cross Above 200-Day Moving Average – Should You Sell?

Shares of Eltek Ltd. (NASDAQ:ELTK) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $10.06 and traded as high as $10.49. Eltek shares last traded at $10.24, with a volume of 13,736 shares.

Wall Street Analyst Weigh In

Separately, Wall Street Zen initiated coverage on Eltek in a report on Friday, May 16th. They issued a “hold” rating on the stock.

Eltek Trading Up 0.6%

The firm has a 50-day moving average of $10.30 and a 200-day moving average of $10.06. The stock has a market capitalization of $68.71 million, a price-to-earnings ratio of 20.08 and a beta of 0.62.

Eltek (NASDAQ:ELTK) last issued its quarterly earnings data on Tuesday, May 20th. The technology company reported $0.15 earnings per share for the quarter. Eltek had a return on equity of 8.67% and a net margin of 7.34%. The company had revenue of $12.76 million during the quarter. On average, equities research analysts anticipate that Eltek Ltd. will post 0.87 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Eltek stock. Northern Trust Corp purchased a new stake in Eltek Ltd. (NASDAQ:ELTK) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 36,616 shares of the technology company’s stock, valued at approximately $405,000. Northern Trust Corp owned 0.60% of Eltek as of its most recent filing with the SEC. 64.58% of the stock is currently owned by institutional investors.

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.