Eltek (NASDAQ:ELTK) Insider Sells $36,295.20 in Stock

Eltek Ltd. (NASDAQ:ELTK) insider Gad Dovev sold 4,260 shares of the firm’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $8.52, for a total value of $36,295.20. Following the transaction, the insider directly owned 500 shares in the company, valued at $4,260. This trade represents a 89.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Gad Dovev also recently made the following trade(s):

• On Tuesday, September 22nd, Gad Dovev sold 852 shares of Eltek stock. The shares were sold at an average price of $8.52, for a total value of $7,259.04.

Eltek Stock Down 0.7%

Shares of Eltek stock opened at $8.12 on Friday. The firm has a market cap of $54.57 million, a PE ratio of -8.92 and a beta of 0.74. Eltek Ltd. has a 12-month low of $7.30 and a 12-month high of $11.59. The company’s fifty day simple moving average is $8.33 and its two-hundred day simple moving average is $8.57.

Eltek (NASDAQ:ELTK) last released its quarterly earnings results on Tuesday, August 18th. The technology company reported ($0.41) EPS for the quarter. Eltek had a negative net margin of 12.66% and a negative return on equity of 13.57%. The business had revenue of $11.53 million for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Eltek in a research report on Wednesday, September 9th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

About Eltek

Eltek Ltd. is an Israel-based manufacturer of printed circuit boards (PCBs) for applications that require advanced design, reliability, and performance. The company produces rigid multilayer, flexible, rigid-flexible, and high-density interconnect circuit boards, as well as prototype and quick-turn products.

Eltek serves customers in industries including aerospace and defense, medical equipment, industrial systems, communications, automotive, and other technology markets. Its products are used in electronic systems that may require complex interconnections, compact designs, and resistance to demanding operating conditions.

Founded in 1970 and headquartered in Petah Tikva, Israel, Eltek sells its products in Israel and international markets, including North America, Europe, and Asia.