Eltek Ltd. (NASDAQ:ELTK) Short Interest Update

Eltek Ltd. (NASDAQ:ELTK) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 10,600 shares, a growth of 34.2% from the February 28th total of 7,900 shares. Based on an average daily volume of 16,600 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.3% of the shares of the stock are sold short.

Hedge Funds Weigh In On Eltek

Several hedge funds have recently added to or reduced their stakes in ELTK. Essex Investment Management Co. LLC purchased a new stake in shares of Eltek in the fourth quarter worth approximately $99,000. Sunbelt Securities Inc. increased its stake in Eltek by 10.9% in the third quarter. Sunbelt Securities Inc. now owns 10,361 shares of the technology company’s stock worth $113,000 after purchasing an additional 1,020 shares during the period. Northern Trust Corp bought a new stake in shares of Eltek during the fourth quarter worth $405,000. Finally, Yelin Lapidot Holdings Management Ltd. boosted its stake in shares of Eltek by 206.7% during the fourth quarter. Yelin Lapidot Holdings Management Ltd. now owns 209,024 shares of the technology company’s stock valued at $2,312,000 after purchasing an additional 140,868 shares during the period. 64.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Eltek in a research report on Saturday. They set a “hold” rating on the stock.

Eltek Price Performance

Shares of NASDAQ:ELTK traded down $0.15 during trading on Wednesday, hitting $8.30. The company had a trading volume of 2,982 shares, compared to its average volume of 25,525. The stock has a market cap of $50.37 million, a price-to-earnings ratio of 9.76 and a beta of 0.36. The company has a fifty day simple moving average of $10.42 and a two-hundred day simple moving average of $10.72. Eltek has a one year low of $8.05 and a one year high of $12.47.

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.