Eltek (NASDAQ:ELTK) Stock Price Passes Below 200 Day Moving Average – Time to Sell?

Eltek Ltd. (NASDAQ:ELTK) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $10.20 and traded as low as $8.42. Eltek shares last traded at $8.5550, with a volume of 10,818 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Eltek in a research note on Monday. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Eltek has an average rating of “Hold”.

Eltek Stock Performance

The company’s 50 day simple moving average is $9.65 and its 200 day simple moving average is $10.20. The stock has a market cap of $57.49 million, a PE ratio of 50.32 and a beta of 0.65.

Eltek (NASDAQ:ELTK) last released its earnings results on Tuesday, November 18th. The technology company reported ($0.03) earnings per share (EPS) for the quarter. The business had revenue of $13.27 million during the quarter. Eltek had a net margin of 2.35% and a return on equity of 2.68%. Equities research analysts expect that Eltek Ltd. will post 0.87 earnings per share for the current year.

Institutional Investors Weigh In On Eltek

An institutional investor recently bought a new position in Eltek stock. CSM Advisors LLC acquired a new position in Eltek Ltd. (NASDAQ:ELTK) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 96,209 shares of the technology company’s stock, valued at approximately $1,030,000. CSM Advisors LLC owned 1.43% of Eltek as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 64.58% of the company’s stock.

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.