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Eltek (NASDAQ:ELTK) Raised to “Buy” at ValuEngine

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Eltek (NASDAQ:ELTK) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday, October 19th, ValuEngine reports.

ELTK traded up $0.09 during trading on Friday, reaching $3.49. The company’s stock had a trading volume of 52,700 shares, compared to its average volume of 42,113. The company has a current ratio of 0.88, a quick ratio of 0.63 and a debt-to-equity ratio of 0.02. Eltek has a 1 year low of $1.28 and a 1 year high of $11.56. The firm has a fifty day simple moving average of $3.51 and a two-hundred day simple moving average of $3.50.

Eltek (NASDAQ:ELTK) last posted its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.19 earnings per share for the quarter. The company had revenue of $8.20 million for the quarter. Eltek had a negative net margin of 0.19% and a negative return on equity of 2.84%.

A hedge fund recently bought a new stake in Eltek stock. Advisor Group Inc. acquired a new position in Eltek Ltd. (NASDAQ:ELTK) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 66,942 shares of the technology company’s stock, valued at approximately $291,000. Advisor Group Inc. owned about 3.30% of Eltek at the end of the most recent reporting period. Institutional investors and hedge funds own 8.44% of the company’s stock.

About Eltek

Eltek Ltd. manufactures, markets, and sells printed circuit boards (PCBs) in Israel, Europe, North America, India, and internationally. The company offers a range of custom designed PCBs, including rigid, double-sided, and multi-layer PCBs; and flexible circuitry, such as flex and flex rigid boards. It serves manufacturers of defense and aerospace, medical, industrial, telecom, and networking equipment, as well as contract electronic manufacturers and other industries.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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