Eltek (NASDAQ:ELTK) Share Price Passes Below Two Hundred Day Moving Average – Should You Sell?

Eltek Ltd. (NASDAQ:ELTK) shares crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $8.74 and traded as low as $8.69. Eltek shares last traded at $8.69, with a volume of 1,803 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of Eltek from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, June 12th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Eltek has a consensus rating of “Sell”.

Eltek Price Performance

The firm has a market cap of $60.41 million, a PE ratio of -19.98 and a beta of 0.75. The business has a fifty day moving average price of $8.86 and a two-hundred day moving average price of $8.74.

Eltek (NASDAQ:ELTK) last announced its quarterly earnings data on Wednesday, May 20th. The technology company reported ($0.42) EPS for the quarter. The business had revenue of $10.44 million for the quarter. Eltek had a negative return on equity of 6.69% and a negative net margin of 6.12%.

Eltek Company Profile

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. It primarily serves medical technology, defense and aerospace, industrial, telecom, and networking equipment industries, as well as contract electronic manufacturers.