Eltek Ltd. (NASDAQ:ELTK) Short Interest Up 5.7% in January

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

Eltek Trading Down 2.8 %

Shares of NASDAQ:ELTK opened at $10.83 on Tuesday. The stock has a market capitalization of $65.73 million, a P/E ratio of 12.74 and a beta of 0.45. Eltek has a 1-year low of $9.00 and a 1-year high of $22.80. The business has a 50-day moving average price of $11.05 and a two-hundred day moving average price of $10.74.

Institutional Trading of Eltek

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Sunbelt Securities Inc. increased its stake in shares of Eltek by 10.9% in the 3rd quarter. Sunbelt Securities Inc. now owns 10,361 shares of the technology company’s stock valued at $113,000 after acquiring an additional 1,020 shares during the last quarter. Renaissance Technologies LLC increased its stake 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 valued at $885,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Foundry Partners LLC increased its stake in shares of Eltek by 14.2% in the 3rd quarter. Foundry Partners LLC now owns 242,470 shares of the technology company’s stock valued at $2,645,000 after acquiring an additional 30,200 shares during the last quarter. 64.58% of the stock is owned by institutional investors.

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.