Eltek Ltd. (NASDAQ:ELTK – Get Free Report) was the recipient of a large growth in short interest in October. As of October 15th, there was short interest totalling 27,100 shares, a growth of 29.7% from the September 30th total of 20,900 shares. Approximately 0.9% of the company’s stock are sold short. Based on an average trading volume of 25,900 shares, the short-interest ratio is presently 1.0 days.
Institutional Investors Weigh In On Eltek
A number of hedge funds and other institutional investors have recently bought and sold shares of ELTK. Renaissance Technologies LLC boosted its position in shares of Eltek by 1.5% in 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 raised its stake in Eltek by 71.3% during the second quarter. Foundry Partners LLC now owns 212,270 shares of the technology company’s stock valued at $2,070,000 after buying an additional 88,365 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its holdings in Eltek by 46.6% in the first quarter. Sunbelt Securities Inc. now owns 9,269 shares of the technology company’s stock worth $103,000 after acquiring an additional 2,945 shares in the last quarter. Hedge funds and other institutional investors own 64.58% of the company’s stock.
Eltek Stock Up 1.1 %
ELTK opened at $10.67 on Wednesday. Eltek has a 52 week low of $9.00 and a 52 week high of $22.80. The stock has a market cap of $64.76 million, a PE ratio of 10.99 and a beta of 0.44. The business has a 50 day moving average of $10.65 and a 200-day moving average of $10.54.
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.
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