Short Interest in Eltek Ltd. (NASDAQ:ELTK) Rises By 5.7%

Eltek Ltd. (NASDAQ:ELTK) saw a large growth in short interest in December. As of December 31st, there was short interest totalling 20,300 shares, a growth of 5.7% from the December 15th total of 19,200 shares. Based on an average daily volume of 20,800 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.6% of the shares of the company are short sold.

Eltek Trading Down 2.9 %

NASDAQ ELTK opened at $11.03 on Tuesday. The business’s 50 day moving average is $11.04 and its two-hundred day moving average is $10.66. The stock has a market capitalization of $66.92 million, a price-to-earnings ratio of 12.97 and a beta of 0.45. Eltek has a 12-month low of $9.00 and a 12-month high of $22.80.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC boosted its position in shares of Eltek by 1.5% during the 2nd quarter. Renaissance Technologies LLC now owns 90,723 shares of the technology company’s stock worth $885,000 after purchasing an additional 1,300 shares in the last quarter. Foundry Partners LLC lifted 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 purchasing an additional 30,200 shares during the period. Finally, Sunbelt Securities Inc. boosted its holdings 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 buying an additional 1,020 shares in the last quarter. Institutional investors and hedge funds own 64.58% of the company’s stock.

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.